Consumer brand Herby Angel and tech startup Jodaro have raised early-stage funding, the companies said Wednesday.
Ayurvedic and organic personal care brand Herby Angels has raised $2.5 million (Rs 20.8 crore) in a funding round from JCBL Group.
The startup plans to use the funding to expand its distribution and product portfolio, develop its technology stack, research and development (R&D) initiatives, and marketing.
Launched in October 2022, the brand operates under the aegis of Herbal Chakra Pvt. Ltd.
Herby Angel’s products are focused on babies and kids. It offers Ayurveda-based nutraceutical and cosmeceutical products. The products can be purchased from the brand’s website, in addition to e-commerce platforms like Flipkart, Amazon, FirstCry, JioMart, amongst others. Its products are available offline as well.
The company says it is present across 13 states in 1,300 retail outlets and plans to expand its presence to around 2,000 retail stores, across 18 states, by the end of this financial year.
It claims to have clocked Rs 12 crore in monthly revenue and targets to achieve a monthly revenue of Rs 25 crore by March 2024.
Jodaro, which offers tech services for cross-border commerce, has secured $750,000 (Rs 6.2 crore) in a seed funding round led by Fundamental VC. The round also saw participation from Maninder Gulati.
The funding infusion is earmarked for developing its technological capabilities, hiring talent and expanding the brand across geographies.
Founded in 2023 by Rajiv Patki and Sambuddha Adhikari, Jodaro provides manufacturers and brands with technical, analytical, operational and strategic expertise concerning cross-border commerce.
It aims to establish a discovery system, enabling global buyers to procure directly from manufacturers in emerging markets. By 2026, Jodaro targets to expand its operations to 10 global markets, collaborating with around 500 manufacturers and curating 15,000 diverse products.
“We are developing a tech stack for global e-commerce using machine learning and automation. Our system can aggregate real-time data from several sources giving us insights into market dynamics. This data platform helps us to make decisions with confidence while our automation stack allows us to design and execute strategies at scale,” said Patki, co-founder, Jodaro.
