A clutch of investors, including early-stage investment firms like Fireside Ventures and 3one4 Capital, has helped Ayurvedic healthcare and wellness start-up Kapiva with a capital commitment of Rs. 17 crore.
Kapiva is a three-year-old start-up that was founded by Baidyanath Group scion Ameve Sharma. They have already received Rs. 11 crore from Fireside Ventures, which is a consumer-focused investment firm headed by Kanwaljit Singh. S Kannan Sitaram. 3one4 Capital, an investment firm run by Pranav Pai and Siddharth Pai have also contributed to this Rs. 11 crore.
Fireside Ventures will also pump in further capital in the second capital raising tranche, which is expected to close over the next two months. Kapiva’s existing set of backers, a list that includes, Maninder Gulati, chief strategy officer at OYO Hotels & Homes, and Madhusudan Kela, chief strategist at Reliance Capital, among others, have also participated in the latest round of funding.
Founded in 2016 by Sharma, who is part of the family running the Baidyanath Group, one of the country’s largest makers of traditional Ayurvedic products, Kapiva is currently present in 12 cities across the country.
The company will use the proceeds from the latest round of equity financing to strengthen its presence in existing markets across major retail formats, while also adding to its product portfolio through the launch of teas and juices, among others.
Till date, Kapiva has raised about Rs 21 crore in financing.