Indian Ayurveda Tech startup NirogStreet has secured $12M in a series B funding round backed by Jungle Ventures and others.
A participation from existing investors namely Spiral Ventures, ICMG Co-Creation fund and DoorDash’s Gokul Rajaram was also seen in this round. Along with the participation of existing investors, the startup welcomed Anthony Weldon as a new investor.
Additionally, Coinbase’s Gokul Rajaram and Livspace’s Anuj Srivastava also participated in this funding round. The startup aims for a bright future and extensive growth. With $12M in treasury, the startup aims to use these funds to power its technology and service offerings. NirogStreet will also look forward to strengthening its supply chain.
This funding round where NirogStreet bagged $12M, is not the first round. A few months back, NirogStreet raised $4M in a Pre-series B round. The Pre-series B round was led by CE Ventures.
NirogStreet and its Offerings
New Delhi-based Startup NirogStreet was launched in 2016 by Ramkumar N. It offers various services like doctor-led prescription enablement and learning/training for over 50,000 doctors. Along with this, NirogStreet also provides the facility of smart clinics. The startup has a very well-maintained digital health record management.
As per the reports, the majority of AYUSH doctors are Ayurveda practitioners. There are around one million AYUSH doctors in India. The Healthcare industry has rapidly grown in last few years. However, this is among the most unorganized sectors. Although 30,000 students graduate every year from 600 colleges.
Upcoming Facility and Man Ki Baat
In the coming weeks, the startup will avail the facility of doorstep delivery. The company reported that it has launched a supply chain process for Ayurveda medicines and orders.
Additionally, the startup claims to have created a learning workspace and knowledge-sharing platform.
This latest round of funding boosts the vision of NirogStreet. To become a global leader in the healthcare industry, the startup uses technology to fill the gap between medicines and patients.
Indian Prime Minister Shri Narendra Modi recently referred NirogStreet in Man ki Baat. Mr. Modi referred to the startup’s sustainable contributions toward the promotion of the Ayurveda Industry.
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