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D2C ayurvedic brand Kapiva to raise Rs.233-Cr from OrbiMed, Vertex Ventures, 3one3 Capital

StartupStory  

Baidyanath Group-backed D2C ayurvedic nutrition company Kapiva Ayurveda is raising an INR 233 crore Series C round led by OrbiMed with participation from existing investors Vertex Ventures and 3one4 Capital. The firm will use the new funds to grow internationally, strengthen offline presence, and provide post-purchase programmes. Mumbai-based Kapiva is engaged in providing solutions for hair loss, weight loss, digestion, and diabetes, and also offers juices, tea, oils, shakes, and organic health and skincare products. It claims to have more than 2 million clients. The company has already raised INR 48.75 crore from OrbiMed and other current investors. With an investment of INR 40 crore, OrbiMed led the first round of the Series C round. 3one4 Capital and Vertex Ventures then contributed INR 5 crore and INR 3.75 crore, respectively. The current tranche's valuation for the firm is estimated at INR 455 crore (post-allotment). Including a Series B round raised in October 2021, the company has so far raised about USD 16 million. Vertex Ventures currently owns 12.64% of Kapiva after this tranche's allocation, followed by OrbiMed and 3one4 Capital with 8.8% and 5.15%, respectively. Co-founders Ameve Sharma and Shrey Badhani own 27% of the company.

From the Venture Intelligence PE-VC Deal Database: Between Nov-2018 and Jan-2021, Kapiva had raised over USD 15 M from Jetty Ventures, Fireside Ventures, 3ONE4 Capital, Vertex, Others. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)