Funding Alert: Centrum invests Rs 15 cr in The Ayurveda Experience and Dunzo

Funding Alert: Centrum invests Rs 15 cr in The Ayurveda Experience and Dunzo

Centrum invests Rs 15 cr in The Ayurveda Experience and Dunzo

Centrum, through its private equity fund, Kalpavriksh, has invested INR 15 Cr ($2.1 Mn) in two startups, The Ayurveda Experience, and Dunzo. Kalpavriksh is Centrum’s maiden PE fund under Centrum Alternatives LLP, which invests in high growth unlisted companies in consumer, education, technology, healthcare and wellness sectors.

Kalpavriksh has invested Rs 10 crore in Delhi-based The Ayurveda Experience, an online, direct-to-consumer Ayurveda content, and products company. The Ayurveda Experience is engaged in the manufacture, sales and distribution of Ayurvedic products in India and globally. Through its brands, iYURA, and Ajara, the company sells healthcare, personal care, and Ayurvedic nutrition products in 5 countries. The Ayurveda Experience also offers a list of 23 specialized courses in Yoga and Ayurveda ranging from Pulse reading to sleep to meditation. The company also gives treatment to weight issues and mental health issues.

The startup plans to use this funding round to scale up its research and development facility to further strengthen its product portfolio and increase its geographic reach. As part of the agreement, Giri Krishnaswamy, CIO, Kalpavriksh Fund, will join the company’s board.

Kalpavriksh has also invested Rs 5 crore in Bengaluru-based Dunzo. Dunzo is a mobile app-based, concierge services provider that connects consumers with its delivery partners. The partners perform tasks such as local grocery shopping, food delivery, arranging medical supplies, etc. and deliver them to the consumer’s residence for a fee.

Dunzo will use the funds to expand operations in Pune, Chennai, Hyderabad, Delhi, and Gurgaon, and work towards being profitable in these micro markets.

Giri Krishnaswamy, CIO of Kalpavriksh Fund, said, “We continue to back niche businesses that have built a distinct business model, created brand equity, and have the potential to scale up rapidly. Both investments are backed by a robust technology platform and have demonstrated sustained growth through innovation and strong customer engagement.”

Anshul Agarwal, executive director, Kalpavriksh Fund said, “We believe that Dunzo’s focus on cost-efficient logistics services by managing capacity utilization throughout the day, will enable it to obtain a competitive edge in the hyperlocal services market.”