National

NirogStreet raises $2 million in pre-Series A funding

Our Bureau Mumbai | Updated on October 08, 2020

NirogStreet, a technology-led Ayurveda platform, has secured $2 million in pre-Series A funding led by Wavemaker Partners and Amand Ventures.

Existing investor Spiral Ventures has also participated in this round, the company said in a statement.

“The recent investment will be employed to strengthen the technology platform and strengthen the supply chain to ensure delivery of quality medicines to Ayurveda doctors and clinics. Ayurveda has been vulnerable to the problem of sub-standard medicines and NirogStreet, from the very beginning, has directed its efforts towards rooting out this problem,” Ram N Kumar, Founder, NirogStreet, said.

“Ayurveda has demonstrated its leadership in the time of Covid-19 and we played an important role in making Ayurveda mainstream. Ayurveda has huge potential to bring India on the centre stage of world healthcare,” he added.

From a network of 200 NirogStreet-certified ayurvedic clinics, the company aims to expand to 5,000 clinics by 2022. The brand, which is also planning to expand globally, has plans to partner with over 100 ayurvedic medicine manufacturers and brands in the next one year.

Published on October 08, 2020

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