Ayurvedic startup Kapiva to raise Rs 330 crore to expand ops: Report
Kapiva's valuation will surge to about $130-150 million (Rs 1,100 to 1,250 crore) after the fundraiser
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Ayurvedic startup Kapiva will reportedly be raising Rs 300-330 crore (about $40 million) to expand operations and grow its market presence.
According to a report by Moneycontrol, existing investor OrbiMed may lead the round while Fireside Ventures, Vertex Ventures, 3one4 Capital, and others may also participate.
Kapiva was founded in 2016 by Ameve Sharma, a member of the ayurvedic product maker Baidyanath Group, and Shrey Badhani.
The company sells a range of products like ghee, honey, teas, oils, and other products.
As per the Moneycontrol report, Kapiva's valuation will surge to about $130-150 million (Rs 1,100 to 1,250 crore) after the fundraiser.
Kapiva's grew by 95% to Rs 115 crore in FY23 as against Rs 59 crore in FY22. However, its losses widened to Rs 65 crore in FY23 from Rs 48 crore in FY22 as the company expanded its product lines.
The Ayurvedic startup is yet to file FY24 earnings.
So far the company has raised a total of over $40 million from a clutch of investors. OrbiMed is its single largest shareholder with a stake of over 30 percent, Baidyanath Group owns around 12 percent of the company, and Vertex owns an 11% stake.
