The Ayurveda-based Beauty brand The Ayurveda Experience (TAE) has collected a sum of 50 Cr INR which is equal to 6 million US dollars in a fresh funding round on Tuesday, 20th December 2022. The current funding round was led by the Chennai based investment company Anicut Capital.
The Direct-to-Consumer beauty brand of India reported that the amount of 50 Cr generated in the fresh funding round will utilised to flourish over a large scale in the existing market and to penetrate into the new market including its country of origin India, the European Continent, the North American Continent and in Australia.
Besides this, the TAE beauty brand also plans to use the amount generated in the funding round in the Research & Development for new products also in sales and marketing the products and their supply chain capabilities.
Investors Participated in the Funding Round
The Fresh Funding round for The Ayurveda Experience Company was directed by Anicut Capital. Moreover, the funding round witnessed the participation of several other investors including Riverwalk Holdings, Emerge Capital, Sharpp Ventures and Singularity Ventures.
About the Company the Ayurveda Experience
The Ayurvedic beauty brand The Ayurveda Experience Company was established in the year 2014 by Mr Rishabh Chopra in Gurugram, Haryana. The brand was released as a content platform for three years after its launch. Later, in the year 2017 it started manufacturing its beauty products and marketed them.
The direct-to-Consumer Beauty products manufacturing firm reported that it has a strong network of 8.4 Lakh customers. The start-up sells products related to beauty and personal hygiene under three brands namely, iYura, A. Modernica and Ajara. Besides the beauty products the company also markets nutrient supplements under the brand named Ayuttva.
The company had raised an amount of Rs 3 Cr in an angel round of funding led by Mohit Satyanand and in the year 2018 the company secured fund in the first funding round directed by Fireside Ventures and Kalpavriksh Fund.
The company generates its revenue from the sales of the products, major amount of revenue is generated through the sales made in the international markets, which is equal to 95 percent. The company reported the annual revenue gained by company which is equal to 235 Cr INR.
The company aims to develop by 46 percent in the next five years and also wishes to launch its second retail outlet in India.
- Fantasy Akhada Bags Funds of $11M from Fresh Funding Round - March 10, 2023
- Pristine Care Pays Off more than FortyEmployees from their Posts - March 9, 2023
- Mintifi Secures Funds of $110M as a Part of its Series D Funding Round - March 8, 2023