According to two sources familiar with the transaction, Mumbai-based homegrown D2C ayurvedic nutrition brand Kapiva is in late-stage negotiations to raise over Rs 200 crore from OrbiMed, according to two sources familiar with the transaction’s details. This is the first funding round for the company in 2022.
“OrbiMed is expected to lead a Rs 200-250 crore Series C round in Kapiva over several tranches,” according to one of the sources who requested anonymity. “Existing investors such as 3one4 Capital and Vertex Ventures will also participate in the latest round.
Ayurvedic nutrition brand Kapiva spokesperson confirmed the research and said, “Our aim is to provide every household around the world with access to modern, convenient, and holistic Ayurveda,” according to a spokesperson for the D2C ayurvedic nutrition brand. In mind, we are launching a new round of funding of INR 223 crore, led by investors like Orbimed, Vertex Ventures, and 3one4 Capital. We will use this funding to support international expansion, strengthen our offline presence, and deliver tech-enabled post-purchase services for holistic solutions.
Founded in 2015 by Ameve Sharma, and Shrey Badhani, Kapiva is a modern ayurvedic nutrition brand that offers natural and organic health and skincare products for hair fall, weight loss, digestion, and diabetes in the form of juices, tea, oils, shakes et al. It claims to have over 2 million customers.
The funding was further confirmed after sifting through MCA filings. The Mumbai-based company has already raised Rs 48.75 crore from OrbiMed and other existing investors, Kapiva’s regulatory filing with the Registrar of Companies (RoC) shows. OrbiMed has spearheaded the first tranche of the Series C round with Rs 40 crore followed by 3one4 Capital and Vertex Ventures which infused Rs 5 crore and Rs 3.75 crore respectively.
As per Entrackr estimates, the Baidyanath Group-backed company has been valued at around Rs 455 crore in this tranche (post-allotment). The company has raised around $16 million to date including a Series B round raised in October 2021.