Ayurveda startup company NirogStreet announced that it raised a total of 12 million USD, that is 100 crores in Indian currency on Friday in a Series B funding round. It was led by Jungle Ventures.
Many investors participated in the funding. Investors such as Spiral Ventures, ICMG Co-Creation Fund, and angel investors such as DoorDash ‘s Gokul Rajaram and Japanese bank SMBC’s APAC co-head Rajeev Kannan and the family office of Anthony Weldon also participated in the round.
Of all the funds it raised, the company is planning to use the funds to intensify its supply chain, service offerings, and technology.
“This new fundraise will help us strengthen our supply chain, service offerings, and tech that will help us realize the vision we are working to achieve, ” NirogStreet Founder and CEO Ram N Kumar said.
The company is facilitating the supply chain of Ayurvedic services and medicines “to enable the doctors to deliver trusted healthcare and working towards making Ayurveda the first call of treatment”, he added.
NirogStreet is an Ayurveda tech Startup founded by Ram Kumar N in 2016. It is a technology-enabled community commerce platform leading doctors to smoothly run the supply chain of Ayurvedic services and medicine. The motive of the company is to enable doctors to provide better healthcare and medical services to patients. It provides a wide range of services like doctor prescriptions, and peer-to-peer learning from Ayurvedic doctors which means they can learn new concepts through each other without the need for instructors, digital health record management, and smart clinics.
“NirogStreet is transforming the entire Ayurveda value chain by infusing trust, quality, access, and scale to the industry. Ram and his team are building an industry-first Ayurveda ecosystem with their unique community-first, knowledge and commerce approach that transcends from ingredients to consumers,” said Anurag Srivastava, Founding Partner at Jungle Ventures in a statement.
The company has been running in profits since last year. The company raised $4 million in December last year in a round led by CE Ventures, the corporate venture capital platform of Crescent Enterprises and ICMG. In that round, Livspace CEO Anuj Srivastava and the Board Members of Coinbase and Pinterest, Gokul Rajaram also took part.