CIOInsider India Magazine
Kapiva Raises $ 60 Million in Series D Round
Kapiva, a health brand concentrating on Ayurveda-inspired products, has secured $60 million in a Series D funding round.
The round featured $28 million in main capital and was spearheaded by 360 ONE Asset and Vertex Growth, with involvement from current investors Vertex Ventures Southeast Asia and India, along with 3one4 Capital.
The leftover funds were utilized to offer exits to certain initial investors. Kapiva stated that the funding will be allocated to enhance research and development, bolster manufacturing, boost brand investments, and establish a health-tech platform focused on providing more individualized care.
The organization has indicated over 80 percent yearly growth in the last three years, with a yearly revenue run rate of around 5.5 billion rupees ($66 million).
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Its offerings, spanning areas like diabetes management, sports nutrition, liver health, and overall wellness, can be found on e-commerce sites, its official website, and around 40,000 retail stores throughout India. Kapiva has furthermore entered markets in the U.S., the Middle East, and Europe.
In 2021, the company received funding spearheaded by Vertex Ventures, joined by Fireside Ventures, Jetty Ventures India, and Rishabh Mariwala
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Founded in 2016 by Ameve Sharma, a member of the Baidyanath Group associated with ayurvedic products, and Shrey Badhani, a past consultant at Bain & Co., the company has grown significantly. By 2023, Kapiva entered the US market via its wholly-owned subsidiary, Kapiva Inc.
In 2021, the company received funding spearheaded by Vertex Ventures, joined by Fireside Ventures, Jetty Ventures India, and Rishabh Mariwala.
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In 2019, the company raised $2.5 million in a funding round that was led by Fireside Ventures. Kapiva and its shareholders received advice from Avendus Capital regarding the transaction.
