Centrum’s PE Fund invests Rs 15 cr in Ayurveda Experience, Dunzo

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Published: May 7, 2019 8:29:08 PM

Kalpavriksh Fund's earlier investments include – The HEAL Institute, The Label Life and Littlemore Innovation Labs Pte Ltd.

Dunzo’s platform allows delivery partners to perform tasks like local grocery shopping, food delivery, arranging medical supplies, etc and deliver them to a consumer’s residence for a fee.

Kalpavriksh, the PE fund of Centrum Group, Tuesday said it has invested Rs 15 crore in two companies – The Ayurveda Experience and Dunzo. Kalpavriksh has invested Rs 10 crore in Delhi-based The Ayurveda Experience (TAE), which is engaged in manufacture, sales and distribution of Ayurvedic products in India and globally through its brands – iYURA and Ajara.

“TAE company is looking 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 said in a statement.

The PE firm has also invested Rs 5 crore in Dunzo, an app-based concierge services provider from Bengaluru. Dunzo’s platform allows delivery partners to perform tasks like local grocery shopping, food delivery, arranging medical supplies, etc and deliver them to a consumer’s residence for a fee. Dunzo plans to use the funds to expand operations in Pune, Chennai, Hyderabad, Delhi and Gurugram and work towards being profitable in these micro markets. Kalpavriksh Fund’s earlier investments include – The HEAL Institute, The Label Life and Littlemore Innovation Labs Pte Ltd.

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