In a resounding endorsement of India’s burgeoning wellness revolution, direct-to-consumer (D2C) ayurvedic powerhouse Kapiva has secured a whopping $60 million (INR 532 crore) in its Series D funding round. This transformative infusion, co-led by powerhouse investors 360 ONE Asset and Vertex Growth, marks a pivotal moment for the Bengaluru-based brand as it sets its sights on conquering international markets. Yet, amid the jubilation, there’s a bittersweet twist: early investor Fireside Ventures is making a graceful exit through a substantial secondary transaction, cashing in on the brand’s meteoric ascent since its inception nearly a decade ago.
But Kapiva’s story stands out—a seamless fusion of ancient Ayurvedic wisdom with modern e-commerce savvy, proving that heritage can indeed be the ultimate disruptor. Founded in 2016 by Ameve Sharma, scion of the iconic Baidyanath Group, and Shrey Badhani, a former Bain Capital whiz, Kapiva isn’t just selling supplements; it’s resurrecting a 5,000-year-old science for the Instagram generation. From humble beginnings with a handful of herbal juices and ghee, the brand has ballooned to over 100 SKUs, spanning everything from diabetes-busting capsules to glow-inducing skincare elixirs.
The funding breakdown tells a tale of calculated ambition: $28 million in fresh primary capital to turbocharge operations, and $32 million via secondary shares, primarily facilitating Fireside’s departure. Existing backers Vertex Ventures Southeast Asia and 3one4 Capital doubled down, underscoring unwavering faith in Kapiva’s trajectory. All told, this round catapults Kapiva’s cumulative fundraising north of INR 900 crore ($107 million), not counting INR 300 crore in prior secondary deals. High-profile names like Bollywood fitness icon Malaika Arora Khan, OrbiMed, and the Baidyanath Group have been in the mix, turning Kapiva into a celebrity-endorsed staple in urban medicine cabinets.
What makes this raise electrifying isn’t just the quantum—it’s the timing. Post-pandemic India has morphed into a wellness-obsessed nation, with consumers ditching synthetic quick-fixes for root-cause remedies rooted in rasa (essence) and dosha balance. Kapiva’s annual revenue run rate (ARR) has rocketed to over INR 550 crore, fueled by an 80% compound annual growth rate over the last three years. Their diabetes supplement, a flagship warrior in the fight against India’s silent epidemic affecting over 100 million adults, claims the crown as the nation’s top-seller in its category. Offline penetration is another triumph: from zero to 40,000 stores in a blink, with audacious plans to hit 100,000 within the next year. Picture this—your neighborhood kirana stocking Amla candy alongside digestive gummies, bridging tradition with everyday convenience.
Ameve Sharma, the visionary co-founder whose family legacy in ayurvedics dates back to 1917, couldn’t contain his exhilaration in an exclusive chat. “This isn’t just capital; it’s rocket fuel for our global odyssey,” he declared. “We’ve cracked the code on making Ayurveda irresistible—sustainable sourcing from Himalayan farms, zero-compromise formulations, and storytelling that resonates from Mumbai to Manhattan.” Indeed, international expansion is the crown jewel here. Kapiva is eyeing a splashy U.S. debut in Q1 2026, targeting the $50 billion American supplement market where “clean label” and “plant-based” are buzzwords. Europe and Southeast Asia follow suit, with e-commerce gateways like Amazon and Shopify as launchpads. Vertex Growth, the Southeast Asia arm of Temasek Holdings, brings invaluable cross-border expertise, having backed regional hits like Carousell.
Fireside Ventures’ exit, while poignant, is a testament to savvy timing. The consumer-focused VC, which led Kapiva’s $2.5 million seed round in 2019 alongside 3one4 Capital and angels like Madhu Kela, has nurtured the brand through its toddler years. Back then, Kapiva was a scrappy D2C upstart peddling value-added nutrition like wild honey and turmeric lattes, challenging the dominance of chemical-laden multinationals. Fireside’s portfolio—boAt, Mamaearth, Yoga Bar—has minted multi-baggers, and their partial cash-out here (valuing Kapiva at a cool $170 million from last year’s mark) signals confidence in the sector’s tailwinds. “We’ve been privileged stewards of Kapiva’s early growth,” a Fireside spokesperson noted. “Watching it evolve into a global contender is the ultimate win.”
Zoom out, and Kapiva’s surge mirrors a seismic shift in Indian consumerism. The ayurvedic market, pegged at $10 billion domestically, is galloping at 16% CAGR, outpacing the broader nutraceutical pie. Government initiatives like AYUSH exports and the “Vocal for Local” ethos have supercharged this renaissance. Yet, Kapiva isn’t coasting on nostalgia; it’s innovating ruthlessly. Their R&D lab in Bengaluru blends ancient texts like Charaka Samhita with clinical trials, ensuring products like the “Wild Asoka” range for women’s health aren’t just folklore but FDA-grade efficacy. Sustainability is non-negotiable—90% of ingredients are farm-to-bottle, with blockchain traceability to combat greenwashing skeptics.
Of course, the road ahead isn’t strewn with rose petals. Intense rivalry from peers like OZiva, Plix, and even legacy giants like Himalaya Wellness looms large. Supply chain snarls in sourcing rare botanicals like Ashwagandha amid climate volatility pose risks, and regulatory scrutiny on supplement claims is tightening globally. Kapiva’s FY23 numbers—INR 116 crore revenue with a INR 64 crore loss—highlight the burn rate of hyper-growth, though unfiled FY24 figures hint at breakeven whispers. Sharma remains bullish: “Profitability by FY26 is locked in; we’re not chasing vanity metrics.”
For investors, this round screams opportunity. 360 ONE Asset, formerly IIFL Wealth, brings institutional muscle with a knack for high-conviction bets in consumer tech. Their co-lead role validates Kapiva’s moat: a 2 million-strong subscriber base, AI-driven personalization via app consultations with Ayurvedic vaids, and a content engine churning wellness reels that rack up millions of views. As India eyes $1 trillion in exports by 2030, brands like Kapiva could be the ambassadors of soft power—exporting not just goods, but a philosophy of holistic living.
In the grand tapestry of Indian startups, Kapiva embodies resilience and reinvention. From Fireside’s seed to global seeds sown abroad, this $60 million milestone isn’t an endpoint; it’s a launchpad. As Sharma poetically puts it, “Ayurveda isn’t a trend—it’s timeless. We’re just making it timelessly cool.” For a nation grappling with lifestyle maladies, Kapiva’s triumph is more than business news; it’s a balm for the soul, promising healthier tomorrows one dosha at a time.
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Last Updated on: Monday, September 29, 2025 2:08 pm by Economic Edge Team | Published by: Economic Edge Team on Monday, September 29, 2025 2:05 pm | News Categories: News
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