D2C brand Kapiva raises $60 Mn in Series D, Fireside Ventures exits

Ayurveda wellness brand Kapiva has raised $60 million in a Series D funding round led by 360 ONE Asset and Vertex Growth. Existing investors such as Vertex Ventures Southeast Asia and India and 3one4 Capital also participated.

Of the total round, $28 million came in as primary capital while the rest was secondary, allowing early investor Fireside Ventures to exit.

The company had kicked off this round with $10 million in September 2024 from OrbiMed Asia along with Vertex Ventures and 3one4 Capital. It has raised nearly $90 million to date.

Kapiva plans to use the fresh funds for research and development, enhancing its manufacturing capabilities, and brand building. It also aims to expand its health tech platform and focus on chronic condition management and personalised care.

Founded by Ameve Sharma and Shrey Badhani in 2015, Kapiva is an ayurvedic nutrition brand offering natural and organic products in categories such as diabetes, hypertension, liver health, hormonal balance, wellness, energy, and sports nutrition.

The company sells through its own website, ecommerce channels, and offline retail stores. Its products are now available in around 40,000 stores across India.

Kapiva currently operates at an annual revenue run rate of around Rs 550 crore, up from about Rs 350 crore in FY25. According to the firm, it has been growing at over 80% year on year for the past three years. It remains slightly EBITDA negative but is close to breakeven and expects to turn profitable in the coming quarter.

While Kapiva has yet to file its audited FY25 numbers, the company recorded a twofold year-on-year increase in revenue to Rs 228 crore in FY24. At the same time, its losses decreased to Rs 56 crore.

It competes with Innovacare, Gynoveda, and Wellbeing Nutrition.