The Ayurveda Experience raises $27M in a series C round led by Jungle Ventures, others

The Ayurveda Experience (TAE), a direct-to-consumer (D2C) brand specializing in Ayurvedic products, has raised $27 million in a Series C funding round led by Jungle Ventures, a Singapore-based venture capital firm.

SIDBI Ventures, Anicut Capital, and Sharrp Ventures (Mariwala Family Office) also participated in the round.

Deepening brand presence 

With the fresh capital, TAE aims to deepen its brand presence in existing markets and enhance customer engagement on its platform. The startup plans to allocate a portion of the funds towards ramping up product development and exploring new distribution strategies.

Rishabh Chopra, TAE's founder and CEO, emphasized the importance of strengthening the group's R&D, supply chain, and manufacturing capabilities to scale newer distribution avenues effectively.

“We are focused towards optimising the fundamentals of the business with a long-term view to build a sturdy, sustainable business. We thank all our new and existing partners for supporting us in our journey,” said Chopra.

TAE's product offerings

TAE, founded in 2010, has made a significant impact on the global market, serving over 1.38 million customers across more than 20 countries, including North America, Europe, Canada, and Australia.

The startup boasts a comprehensive suite of Ayurvedic offerings, including beauty products like hair oils, moisturizers, and creams, as well as services such as consultations and educational webinars on Ayurveda. Notably, It claims that more than 95% of TAE's sales are generated directly from its own app and website.

How well TAE is performing financially? 

Despite the challenging economic environment, TAE has demonstrated robust financial performance, with revenues reaching Rs 259 crore in fiscal 2023. The startup is on track to achieve its revenue target of Rs 350 crore in FY24, even though it reported a net loss of Rs 17 crore in the previous fiscal year. 

"As India continues to assert itself on the global stage, a distinctive opportunity arises for our entrepreneurs to establish global brands with uniquely Indian flavours. The remarkable accomplishments of TAE's team, achieving a sizable scale with minimal resources are truly commendable," Arpit Beri, partner at Jungle Ventures.