Kapiva raises $60M in Series D round led by 360 ONE Asset and Vertex Growth

Kapiva, a healthcare brand focused on Ayurveda-based products, has raised $60 million in a Series D funding round.

The round included $28 million in primary capital and was led by 360 ONE Asset and Vertex Growth, with participation from existing investors Vertex Ventures Southeast Asia and India and 3one4 Capital. The remainder of the funds was used to provide exits to some early investors.

Kapiva said the funding will be used to expand research and development, strengthen manufacturing, increase brand investments, and build a health-tech platform aimed at offering more personalised care.

The company has reported more than 80% annual growth over the past three years, with an annual revenue run rate of about 5.5 billion rupees ($66 million).

Its products, which cover categories such as diabetes care, sports nutrition, liver function, and general wellness, are available through e-commerce platforms, its own website, and roughly 40,000 retail outlets across India. Kapiva has also expanded into markets in the U.S., the Middle East, and Europe.

Kapiva promoted its Chief Operating Officer, Shantanu, and Chief Revenue Officer, Anuj Sharma, to the role of co-founders.

The company was established in 2016 by Ameve Sharma, a member of the Baidyanath Group family known for ayurvedic products, and Shrey Badhani, a former consultant at Bain & Co.

In 2023, Kapiva expanded into the US market through its wholly-owned subsidiary, Kapiva Inc. In 2021, Kapiva secured funding led by Vertex Ventures, with participation from Fireside Ventures, Jetty Ventures India, and Rishabh Mariwala. Earlier, in 2019, the company had raised $2.5 million in a funding round led by Fireside Ventures.

Avendus Capital advised Kapiva and its shareholders on the transaction.