Kapiva, a Bengaluru-based startup specialising in Ayurvedic nutrition, has reportedly raised Rs 83.5 crore (approximately $10 million) in a funding round.
The round was led by OrbiMed Asia, with participation from 3One4 Capital and Vertex Ventures.
The board at Kapiva has passed a special resolution to
Kapiva, a Bengaluru-based startup specialising in Ayurvedic nutrition, has reportedly raised Rs 83.5 crore (approximately $10 million) in a funding round.
The round was led by OrbiMed Asia, with participation from 3One4 Capital and Vertex Ventures.
The board at Kapiva has passed a special resolution to issue 5,62,631 compulsory convertible preference shares to raise the aforementioned sum, Entrackr reported, citing the company's regulatory filing.
Aiming to raise Rs 250 crore
The report said that OrbiMed Asia invested the largest portion with Rs 52.2 crore, while 3One4 Capital and Vertex Ventures provided Rs 11.96 crore and Rs 19.33 crore, respectively.
The funding is part of Kapiva’s ongoing Series C round, where the startup aims to secure a total of Rs 250 crore.
Earlier, in October 2022, Kapiva raised Rs 48.75 crore ($6 million) from OrbiMed and other investors as part of the same round.
Purpose of fundraising
Kapiva plans to use the raised capital to expand its business and further develop its product line. In addition, the startup has expanded its Employee Stock Option Plan (ESOP) by introducing 1,415,00 new employee shares, bringing the total pool to 4,47,741.
What does Kapiva do?
Founded in 2015 by Shantanu, Ameve Sharma and Anuj Sharma, Kapiva offers a wide range of Ayurvedic nutrition and health products, including natural juices, teas, oils, and shakes. These products are designed to address various health issues such as hair loss, weight management, digestion, and diabetes.
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