Bengaluru-based modern Ayurveda brand Kapiva has raised over $60 million (Rs 510 crore) in a Series D funding round led by 360 ONE Asset and Vertex Growth, per an announcement.
The funding also saw participation from existing investors Vertex Ventures Southeast Asia & India and 3one4 Capital. The financing included $28 million (Rs 240 crore) in primary capital. The balance was used to provide an exit to early investors, the company said in a statement.
The fresh capital will be deployed to strengthen Kapiva’s research and development, manufacturing capabilities, brand building, and build a strong health-tech ecosystem, the statement added.
“This funding represents confidence in our vision to make Ayurveda the preferred choice for holistic wellness. Our strong results from clinical trials on our blood sugar supplement Dia Free Juice and our sports nutrition supplement Shilajit Gold reflect our commitment to products that are both accessible and proven. We are making our products accessible to consumers across channels from our own website to ecommerce and now a fast-growing offline channel with a reach of about 40,000 stores,” said Ameve Sharma, Founder of Kapiva.
Founded by Ameve Sharma and Shrey Badhani in 2016, Kapiva offers products across sports nutrition, daily energy, diabetes, blood pressure, cholesterol, liver care, hormonal balance, and daily wellness.
At present, the company employs over 500 people and operates across a robust distribution network spanning general trade, modern trade, pharmacy, digital commerce platforms, and its own website. The brand is present across 40,000 stores in India.
Kapiva claimed that it had delivered over 80% year-on-year growth and achieved an annual revenue run rate (ARR) of over Rs 550 crores in the past three years. The brand recently expanded globally, including the Middle East, Europe, and North America, with a wholly-owned US subsidiary, Kapiva Inc.
Avendus Capital acted as the exclusive financial advisor to Kapiva and its shareholders for the transaction.
