The Ayurvedic brand raised $3 million in an investment round led by Wipro Consumer Care Ventures and high-net-worth individuals (HNIs) including Rahul Gupta and Harsh Gupta
Ayurvedic and personal care brand The Ayurveda Co (TAC) has received seed funding from actress Kajal Aggarwal, in a round that is expected to raise $15 million.
Prior to this investment, the beauty care brand had raised $3 million in an investment round led by Wipro Consumer Care Ventures and high-net-worth individuals (HNIs) including Rahul Gupta and Harsh Gupta.
Founded in 2021 by Param Bhargava and Shreeddha Singh, the direct-to-consumer (D2C) brand claims that it has achieved a 500 per cent growth in its top-line revenue from March to October 2022.
Talking about the investment, Bhargava, co-founder of the company said, "We are delighted to have Kajal and her husband Gautam Kitchlu with TAC. The funds raised will be deployed for deeper digital and retail penetration."
Singh added that the 'Singham' actor is an "avid propagator of a natural and holistic lifestyle. "So, it only made sense to have more extensive synergies in the future in addition to having her on board for the range curated for the young ones," she added.
Sharing this perspective, Aggarwal claimed that she has always sought the safest and purest natural things for her baby, right from his clothes to his everyday care products. "That's when I learned about TAC's Dashapushpadi range and tried it on myself before using it on him. I believe that Ayurveda holds the power to transform this world, making it a better, kinder place, which is why I joined TAC's mission to heal the world with Ayurveda," she added.
Having raised $1.3 million in a seed funding round recently, Bengaluru-based Up⤴️ hopes to reach a $30 million annual run rate on its smart kitchen appliance
Agarwal will exit the company on November 25. He will also stop working as the key managerial personnel (KMP) from the same date
Users took the issue to Twitter and demanded compensation for the losses they faced