The Ayurveda Experience, a D2C skincare and nutrition brand, has raised Rs 50 crore or $6 million in a new round led by Anicut Capital. Other investors that participated include Mariwala Family office Sharrp Ventures and Singularity Ventures.
Including this round the company has now raised Rs 105 crore of primary capital, in addition to approximately Rs 30 crore of secondary shares being purchased by investors over the years.
The funds will be used to further expand its national and global presence, strengthen its R&D and manufacturing base, invest in personalisation technologies, TAE said in a statement.
Founded by Rishabh Chopra, the brand primarily sells its products through its website, but opened its first offline store in Los Angeles in October. TAE retails over 100 stock keeping units across three beauty and personal care brands: Iyura, Ajara and A. Modernica, and one supplement, food and beverage brand: Ayutta.
With an overall customer base of 8,40,000, the brand claims to have an annualised revenue run rate of over Rs 280 crore. The company aims to grow at a CAGR of 46% in the next 5 years and has already achieved more than Rs 235 crore of revenue in the last 12 months.
Debt and equity investment firm Anicut Capital recently received market regulator Securities and Exchange Board of India (SEBI) approval for a Rs 1,500-crore debt fund. The firm’s portfolio companies include m-Caffeine, Vyapar, ChargeUp, Enmovil, Astrogate Labs, Snapmint, Burgerama, Zymrat and GIVA among others.