Sunday, June 4, 2023

Fund Raise: Making Ayurveda mainstream by blending with benefits of modern sciences


Deepak Agarwal, founder, AuricDeepak Agarwal, founder, Auric

AURIC is a novel and aspirational direct-to-consumer (D2C) brand creating innovative and convenient lifestyle products by blending ayurveda with benefits of modern sciences. It aims to break into the lucrative $5-billion ayurveda and supplements industry by promoting a wide array of world-class consumer products.

Recently, Venture Catalysts, an integrated incubator and accelerator, co-led the $2 million pre-Series-A funding round for Auric. The funding was co-led by Cactus Venture Partners and 9Unicorns. The funding round also witnessed participation from investors such as Karthik Bhat via AngelList and Capital-A (Manjushree Ventures).

Auric is founded by Deepak Agarwal, an IIT-Delhi alumni with over eight years of experience with Hindustan Unilever across India, Switzerland, and Singapore. The startup operates in the mass-premium segment at the crossroads of consumer goods and supplements. It has a unique range of ayurveda-inspired, coconut-water based drinks for beauty and wellness, drinks for healthy skin, balanced weight and stronger hair being some of the examples. The company has also launched ayurveda-based hot beverages such as – Moringa Masala Tea, Turmeric Coffee & Ashwagandha Hot Chocolate.

Deepak Agarwal, founder of Auric, said, “Since our inception three years ago, we have been steadfast in our mission to introduce Ayurveda in the daily lifestyle of millennials. This timely fundraise will indeed prove instrumental in bringing us one step nearer towards reconnecting the mind, body and soul of people around us.”

Apoorva Ranjan Sharma, co-founder and president, Venture Catalysts, said, “Riding on the promise of Ayurveda and scientific excellence, Auric is a new-age brand that has the potential to take the $5-billion Ayurveda market by storm through its dazzling range of customised and unique products.”

Venture Catalysts is India’s first integrated incubator. It invests $250,000 to $1.5 million in early-stage startups that have the potential to create enduring value for a long time.

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