D2C Ayurveda Startup Kapiva Raises $60 Mn To Fuel International Expansion
Summary
D2C ayurveda brand Kapiva has raised $60 Mn (INR 532 Cr) in a Series D round co-led by 360 ONE Asset and Vertex Growth.Besides, existing investors Vertex Ventures and 3one4 Capital also participated in the round.The round was a mix of primary and secondary transactions, with $28 Mn capital infusion netted via primary transaction. The remaining $32 Mn came in via a secondary deal, giving an exit to Kapvias early investors.The startup said that the newly raised capital will be deployed in boosting its research and development (R&D), manufacturing capabilities, along with marketing activities.Kapiva cofounder Ameve Sharma told Inc42 that the brand will be allocating some capital for international expansion. Its other investors include actor Malaika Arora Khan, Fireside Ventures, OrbiMed and Baidyanath Group.The startup is yet to disclose its financial performance for the fiscal year FY25. At the behest of the top line growth, it trimmed its loss by 25.4% to INR 48.2 Cr, while it posted a loss of INR 64.6 Cr in FY23.The startups fundraise comes at a time when Indians are increasingly leaning towards natural and herbal wellness products across categories from skincare to supplements and functional beverages.Riding this wave, D2C ayurveda brands are positioning themselves at the intersection of tradition and modern consumer demand.The ayurvedic and herbal wellness space, however, is getting more competitive with players such as OZiva, Himalayan Organics and The Ayurveda Co (T.A.C), all vying for market share. Larger FMCG incumbents like Dabur, Himalaya, and Patanjali are also ramping up their portfolios and marketing spends to capture the younger, urban consumer base.The market size of Indian ayurvedic products is expected to reach about INR 3.21 Lakh Cr by 2032, growing at a CAGR of 17% from 2024.
Funding
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