[Funding alert] Ayurvedic wellness startup Auric raises $2M in pre-Series-A round led by Venture Catalysts, others
Ayurvedic health and wellness startup Auric on Monday raised $2 million in a pre-Series-A round co-led by Venture Catalysts, Cactus Venture Partners, and 9Unicorns. Karthik Bhat via AngelList and Capital-A (Manjushree Ventures) also participated in the round.
Founded by Deepak Agarwal, an IIT- Delhi alumni with over eight years of experience with Hindustan Unilever across India, Switzerland, and Singapore, Auric operates in the mass-premium segment at the crossroads of consumer goods and supplements.
Speaking on the fundraise, Deepak said,
“Since our inception three years ago, we have been steadfast in our mission to introduce Ayurveda in the daily lifestyle of millennials. We are wholeheartedly committed to the idea of empowering the country’s millennials with ancient wisdom that works for them. This timely fundraise will indeed prove instrumental in bringing us one step nearer towards reconnecting the mind, body, and soul of people around us.”
Deepak Agarwal, Founder of Auric
Its range of Ayurveda-inspired products includes coconut-water-based drinks for beauty and wellness drinks for healthy skin, a balanced weight, and stronger hair; and Ayurveda-based hot beverages — Moringa Masala Tea, Turmeric Coffee, and Ashwagandha Hot Chocolate.
Commenting on the investment, 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. We wholeheartedly believe in the disruptive capability of this company based on the exemplary dedication exhibited by Auric’s founding team towards realising its long-term and short-term objectives."
"Through this funding, we are pleased to have played an integral part in helping the company realise its overarching vision. We would also like to take this moment to assure them that they will find us backing them at every step on their journey ahead. We wish them all the success in the world as they deserve every bit of it,” he added.