Ayurvedic wellness brand The Ayurveda Co, intercity trucking marketplace Raaho and bioprocess engineering company OmniBRx have managed to secure early-stage capital, the startups said on Monday.
Ayurvedic direct-to-consumer (D2C) brand The Ayurveda Co has raised Series A funding of $12.2 million (around Rs 100 crore) led by Sixth Sense Ventures.
The round also saw participation from actor Kajal Agarwal, with a host of startup founders and venture debt funds.
The Gurugram-based company will use the fresh funds to expand its offline presence, boost product stack and digital outreach.
Founded in 2021 by Param Bhargava and Shreedha Singh, The Ayurveda retails its products on online channels such as Amazon, Myntra, Nykaa, Flipkart, First Cry, BlinkIt, among others, as well as offline via multiple platforms like general trade. The company claims to have grown over 300% in the past 10 months.
Last year, The Ayurveda raised $3 million in a seed funding round led by Wipro Consumer Care Ventures with participation from some high net-worth individuals.
Intercity trucking marketplace Raaho has secured $2.4 million (around Rs 20 crore) in an extended pre-Series A funding round, taking the total capital raised in the round to $3.8 million till date.
The fundraise was led by existing investor Inflection Point Ventures, with participation from Roots Ventures and Blume founders’ fund.
A host of angel investors like Vijay Shekhar Sharma (PayTM), Kunal Shah(Cred) and Venkatesh Vijayaraghavan (Cavin Care), among others also took part in the round.
The fresh proceeds will be deployed for expanding Raaho’s presence and to further develop its technology stack.
Founded in 2017 by Imthiaz Y, Muralidharan C, Vipul Sharma, Fahad and Joshua Jebakumar, Raaho connects third-party logistics agencies to fleet owners through its real-time technology matchmaking algorithm.
“With this fundraise, we plan to expand our reach to more geographies in India, while also strengthening our data science and machine learning capabilities to enhance our freight matching efficiency,” said Imthiaz.
In 2021, the startup raised $1.4 million as a part of its pre-Series A funding round led by Inflection Point Ventures and Nitish Mittersain (Nazara Technologies).
OmniBRx, an Ahmedabad-based bioprocess engineering company, said it has raised Rs 30 crore from SIDBI Venture Capital Ltd in its Series A round.
The company said it will use the capital to expand its business in the overseas market. It will also invest in building manufacturing facilities to augment its production capabilities and meet growing demand.
