@ Vikash Sharma | Sr Journalist
India: Auric, one of the country’s fastest growing Ayurveda-based contemporary health and wellness brand, today announced a Pre-Series A funding round of USD 2 million led by Venture Catalysts, India’s first and largest integrated incubator and accelerator. The funding round also witnessed participation from other eminent investors such as 9Unicorns, Cactus Venture Partners, Karthik Bhat via AngelList and Capital-A (Manjushree Ventures). Auric will use the capital on new product development, brand building and hiring new people.
Founded in 2018 by Deepak Agarwal, Auric is essentially a novel and aspirational Direct To Consumer (D2C) brand creating innovative and convenient lifestyle products by blending Ayurveda with benefits of modern sciences. It aims to break the lucrative $5 billion worth Ayurveda & Supplements industry by championing a scintillating array of world-class consumer products.
Auric operates in the mass-premium segment at the crossroads of Consumer Goods & Supplements. It has a unique range of Ayurveda-inspired, Coconut-water based drinks for Beauty & Wellness drinks for healthy skin, Balanced Weight & Stronger Hair being some of the examples. The company has also launched Ayurveda-based Hot Beverages such as— Moringa Masala Tea, Turmeric Coffee & Ashwagandha Hot Chocolate.
Speaking on the successful fundraise, Deepak Agarwal, founder of Auric, 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 & Soul of people around us.”
Also commenting on the pre-series-A investment round, Dr. Apoorva Ranjan Sharma, Co-Founder, 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 dollar Ayurveda market by storm through its dazzling range of customized 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 realizing its long-term as well as short-term objectives. Through this funding, we are pleased to have played an integral part in helping the company realize 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.”