Indigenous direct-to-consumer (D2C) ayurvedic nutrition brand Kapiva may raise over Rs 200 crore as the first funding in 2022. The company is in late-stage talks with OrbiMed to get this funding, Entrackr reported.
“OrbiMed is likely to lead Rs 200- 250 crore worth Series C round across several tranches in Kapiva,”. Existing investors such as 3one4 Capital and Vertex Ventures will also join the new round,” one of the sources requesting anonymity told Entrackr.
“Our vision is to empower every household across the globe with access to modern, convenient, and holistic Ayurveda. With this goal in mind, we are raising a new round of funding of INR 223 crores led by investors like Orbimed, Vertex Ventures and 3one4 Capital. We will utilize this funding towards international expansion, bolstering offline presence, and delivering tech-enabled post-purchase programs for holistic solutions,” a Kapiva spokesperson said.
The Mumbai-based start-up earlier raised Rs 48.75 crore from three investors including OrbiMed, 3one4 Capital and Vertex Ventures. OrbiMed invested Rs 40 crore while 3one4 capital and Vertex Ventures invested Rs 5 crore and Rs 3.75 crore respectively.
Founded in 2015, Kapiva is known for offering natural and organic skin and healthcare products in the form of juice, oil and tea. The company aims to treat problems like hair fall, diabetes, indigestion and weight loss.
In the financial year (FY) 2021, the company reported Rs 40.8 crore in revenue from operations compared to Rs 16.7 crore in the previous financial year. It witnessed a 2.4x jump in revenue. Similarly, the losses of the company also increased to Rs 25.18 crore in FY21 compared to Rs 10.98 in FY20.