[Funding alert] Wellness startup Green Cure raises pre-Series A round from Venture Catalysts
Delhi-based wellness startupon Thursday said it has raised an undisclosed pre-Series A round from Venture Catalysts.
Green Cure, which sells herbal OTC products, will utilise the funds to scale up its operations and foray into new product categories.
Founded by IIM Calcutta alum and ex-BCG consultant Sanchit Garg and Six Sigma Black Belt-certified professional Sanjeev Dadhich in 2015, Green Cure claims its products are created by a team of German scientists and Ayurveda experts, who blend modern science with ancient Indian Ayurveda to develop proprietary solutions for chronic ailments.
Talking about the potential of herbal products, Green Cure Founder Sanchit Garg said,
“With the onset of the COVID-19 pandemic, consumers have shifted their focus towards herbal and Ayurvedic products that can promote holistic wellbeing. Stringently adhering to the safety standards, our products are created by a team of German scientists and Ayurveda experts who blend the best of Western technology and ancient wisdom of Ayurveda to develop proprietary solutions for chronic and lifestyle health."
He added, "The capital injection will catapult our growth and help establish Green Cure as a global name in the herbal/Ayurvedic OTC products space.”
The startup — which has 14 patents in total for its formulations — recently got its first patent granted. The company is also certified by Made Safe by Safe Cosmetics Australia and recognised by Namo Gange for outstanding achievement in the field of AYUSH (Ayurvedic, Yoga, and Naturopathy, Unani, Siddha, and Homeopathy).
Speaking on the funding, Apoorv Ranjan Sharma, President and Co-founder, Venture Catalysts, said,
“While the roots of Ayurveda dates back to the Vedic era, we have observed a greater acceptance of Ayurvedic OTC and wellness products in recent years. Estimated at $16 billion, the global Ayurvedic industry is ripe for disruption, and Green Cure shows the potential to capitalise on this opportunity and fortify its position as a mass premium brand. We are excited to back Sanchit and his team in this journey.”