Ayurvedic healthcare startup KivaShots has raised an undisclosed amount of funding from several marquee investors. The company plans to use the money for product development, marketing, and geographical expansion.
The investors who participated in this first angel round are Max Life Insurance CEO Rajesh Sud, Max Healthcare MD Rajit Mehta, Ward Ferry Management chief information officer Vineet Mitera, MindTickle cofounder Mohit Garg, Zomato, which along with UberEATS collectively acquired Runnr, co-founder Pankaj Chaddha, and Startup Buddy cofounder Amit Singal.
KivaShots which operates Rs 15,000-crore Ayurveda food and beverages segment is growing 25-30% year-on-year, said KivaShots founder Shalabh Gupta. Gupta said he started KivaShots as he believed that there was a need to make Ayurveda more exciting for millions of customers, including himself.
Ayurvedic Drinks Market Size
According to the organization’s computation, the market measure for these beverages in India is more than Rs 1,500 crore and a similarly enormous market abroad. “We intend to start exploring the markets in the US, UK and Middle East in 2018,” said Gupta.
The company plans to use the money for product development, marketing, and geographical expansion. “We intend to start exploring the markets in the US, UK and Middle East in 2018,” said founder Shalabh Gupta.