The Ayurveda Company (TAC) has raised an undisclosed amount in various rounds of funding from GetVantage, Velocity, and Shiprocket Capital through revenue-based financing.
The company will deploy these investments for growth marketing, inventory capital and employee/ workplace benefits.
Founded by former entrepreneurs Param Bhargava and Shreedha Singh, The Ayurveda Company manufactures products in the skincare and haircare range. Prior to beginning TAC, the two founders had begun Khadi Essentials( KE) Healthcare Pvt Ltd too.
“Amalgamating the vision of TAC with learnings of Khadi Essentials, our dream is to create an international D2C Ayurvedic entity for the global millennials. Being entirely bootstrapped, KE’s revenue had been the primary source of TAC’S funds. Our idea is to bring out unique, innovative and concern led products in the skincare and haircare range that are a perfect blend of Ayurvedic principles and naturally derived scientific formulation and eventually extend the product portfolio into the wellness and nutrition domains. We are preparing ourselves to become India’s Fastest growing D2C Beauty and Wellness Brand and this partnership with our RBF friends will help us in giving the right launchpad to TAC before the Pre Series A round, ” said Param Bhargava, founder, The Ayurveda Company (TAC).
The company’s target audience remains the US, Europe, Australia and the Middle-East consumer base. It is also slated to enter international markets very soon. This outreach to global audiences is likely to be one of the biggest developments for TAC. Further, the company stated that there has also been a greater emphasis on making TAC’s D2C webstore to generate higher revenues for the organisation.
“We are working on multiple unique SKUs for the next 4 quarters with launches across beauty and personal care, natural makeup and wellness nutrition that are scheduled to take place very soon taking our Portfolio to 100 Unique SKUs. We began with a team of 3 in January 2020. This number grew to 20 in July and eventually 60+ members in July 2021. By the end of this financial year, the TAC family is likely to grow even further and become 100 members strong,” said Shreedha Singh, cofounder ,TAC.
Several brands such as Nykaa, Sugar, Mamaearth, Wow Skin Science, Skinkraft and Plum have gained popularity in fields across beauty, cosmetics and personal care. Currently, India has over 80 D2C brands in these sectors.
D2C startups have lately received larger investor attention in the past few quarters. According to Inc42 Plus’ latest funding data, in the quarter of the year ended March 2021 (Q1 2021), D2C startups raised $142 Mn, which was 27% of the total funding for ecommerce startups. More importantly, between Q1 2020 and Q1 2021, the funding amount for D2C startups has registered a 93% average quarterly growth.
Examples of D2C startups in the personal care and beauty sector that raised funding include Sugar Cosmetics, which raised $21 Mn in a Series C round led by Elevation Capital, and personal care brand Juicy Chemistry, which raised $6.3 Mn in a Series A round led by Belgium-based family-owned private investment firm Verlinvest.
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