Kapiva has over 40+ food products in its portfolio and has a presence in 10 cities via more than 4,000 outlets even as it sells through e-commerce marketplaces including Amazon and Big Basket.
Online store for ayurvedic products Kapiva Ayurveda, launched by 101-year old legacy ayurvedic pharmaceuticals brand Baidyanath’s scion Ameve Sharma, has raised $2.5 million in its first round of institutional funding. The round was led by Fireside Ventures with participation from Mohandas Pai’s 3One4 Capital, Madhu Kela and GITS Foods.
Launched in 2016, Kapiva Ayurveda sells ayurvedic food products such as juice, tea, honey and medicines for cough, cold, diabetes, hair problems, immunity and wellness etc. Sharma launched Kapiva along with former associate at Bain Capital Shrey Badhani.
The startup will allocate capital towards ramping up its distribution presence and build brand awareness, the company said in a statement.
Kapiva has over 40+ food products in its portfolio and has a presence in 10 cities via more than 4,000 outlets even as it sells through e-commerce marketplaces including Amazon and Big Basket. Kapiva also retails products online and offline in the US.
“We have a huge headroom for growth since less than 5% of the food and consumable products in India are natural or herbal. We are making a difference through value-added nutrition, especially through careful sourcing of ingredients,” said company Ameve Sharma.
The company forayed into offline channels through traditional retail and modern trade outlets such as Reliance Retail and Nature’s Basket. It is now focusing on increasing store presence in India’s top cities even as it scales international operations.
“Kapiva is targeting the fast-growing everyday wellness foods space with high-quality products developed using appropriate technology. It is an excellent example of early-stage consumer investing that we at Fireside focus on,” Fireside Ventures’ venture partner VS Kannan Sitaram said.
Bengaluru-based venture fund Fireside Ventures invests in early-stage consumer brands. Startups in its portfolio include consumer electronics brand Boat, mother and baby care brand Mamaearth, Bombay Shaving Company, Vahdam Teas, fashion jewellery startup Pipa Bella etc.
“The best part of the collaboration (with Fireside Ventures) is that they have brought to the table insightful FMCG experience along with the capital they have infused,” said Sharma.
Kapiva Ayurveda had raised around Rs 4.4 crore from a clutch of angel investors in 2017.