In its first round of institutional funding, ayurvedic foods brand Kapiva Ayurveda has raised $2.5 million led by early stage venture fund Fireside Ventures.
The round also saw participation from Infosys’ former finance chief TV Mohandas Pai’s family office 3one4 Meridian, former chief investment strategist at Reliance Capital Madhusudan Kela and promoters of ready-to-eat food-maker Gits Food. “We have a huge headroom for growth since less than 5 per cent of the food and consumable products in India are natural or herbal,” said company co-founder Ameve Sharma.
The start-up, which makes traditional Indian foods such as herbal juices, ghee and honey, will use the funds to scale its distribution presence and build brand awareness. In 2017, Kapiva Ayurveda raised about Rs 4.4 crore from a group of angel investors. Founded by Baidyanath Group scion Ameve Sharma and ex-Bain Capital investor Shrey Badhani, Kapiva Ayurveda has a portfolio of about 40 ayurvedic food products.