Prowess Advisors, an advisory firm that took over early-stage venture fund Kalpavriksh from Mumbai-based asset manager Centrum Alternatives in 2023, has exited its investment in The Ayurveda Experience, a D2C beauty and health Ayurveda brand, per a statement.
The firm claimed to have garnered over 6x returns from the exit.
Kalpavriksh Fund first invested in The Ayurveda Experience in 2018 as part of its Series A round and subsequently participated in multiple follow-on rounds.
Founded by Rishabh Chopra, The Ayurveda Experience is a health, wellness, and beauty platform serving over 1.38 million customers. The company offers a range of skincare, body care, hair care products, wellness supplements, and functional foods.
The company recently raised $27 million in a Series C funding round led by Jungle Ventures, with participation from SIDBI Ventures, Anicut Capital, and Sharrp Ventures (Mariwala Family Office). The round brought the total amount raised by the company to over $41 million (₹342 crore).
Prowess is currently in the market for two separate debt and equity vehicles, which will target deals in the food and agriculture sector in India. It is understood to be looking at a corpus of about $75 million and $500 million, respectively.
The Kalpavriksh Fund counts ride-sharing company BluSmart among its portfolio companies.
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