Direct-to-consumer (D2C) ayurveda brand Kapiva has raised $60 million (INR 532 crore) in a Series D funding round co-led by 360 ONE Asset and Vertex Growth, with participation from previous backers such as Vertex Ventures and 3one4 Capital. The round comprised $28 million in fresh primary capital and $32 million in secondary share sales that facilitated exits for early investors (such as Fireside Ventures). This brings Kapiva’s total funding tally to roughly INR 900 crore since inception, with about INR 300 crore in secondary transactions.
This development is firstly reported by Inc42.
What Makes Kapiva Unique? Brand, Product, and Innovation
Kapiva blends traditional ayurvedic wisdom with modern nutrition science, offering over 100 SKUs: gummies, shakes, juices, capsules, skincare, and diabetes/energy/liver/heart supplements. Its diabetes supplement is India’s highest seller in the category. Key value props include:
- Direct farm sourcing, traceable ingredients, and modern R&D.
- Consultations via ayurvedic doctors—blending product and service.
- Omnichannel approach: D2C website, ecommerce, retail presence in 40,000+ stores.
- Personalization and tech-driven engagement, targeting chronic conditions and lifestyle needs, with digital health platforms in the pipeline.
- International expansion (UK, US, UAE), where 5–10% of revenue now originates.
Market Context and Competition: Ayurveda D2C on a Steep Rise
India’s Ayurveda market is booming—projected at ₹1.9 lakh crore (~$22 billion) in 2025, growing at 15–16% CAGR, fueled by rising health awareness, online retail, and global demand. Brands like Kapiva are reaching city and rural India with ecommerce as well as capturing international interest.
Kapiva’s main national competitors:
- Dabur, Himalaya, Baidyanath, Patanjali: Wide legacy portfolios, deep distribution, and innovation.
- Modern D2C brands: OZiva, Wellbeing Nutrition, Innovcare, Gynoveda, Dr. Vaidya’s, Upakarma, Cureveda, Vedix—leveraging influencer-driven launches, private labels, digital-first strategies, and subscription models.
- Reported revenues for some modern D2C rivals: BeatO ($144M), Wellbeing Nutrition, Gynoveda, and others in the high-growth phase.
Recent moves from competitors: Dabur reported record international revenues; Himalaya expanded its D2C and R&D labs; OZiva broadened into sports and women’s wellness; Wellbeing Nutrition and Gynoveda launched new women’s health and immunity lines.
Read this: Curefoods Secures Rs 160 Cr Funding From Flipkart Co-founder Binny Bansal
Insights and Outlook: The Future of Ayurvedic Consumer Brands
Kapiva’s ability to blend scientific R&D, accessible digital services, and global brand-building has positioned it well for a market where modern Ayurveda is fast replacing legacy perceptions of the sector. The convergence of personalized nutrition, digital doctor consultation, and natural wellness is set to drive the next wave—one where differentiated brands can shape global health and lifestyle trends out of India.
With this latest round, Kapiva is poised to lead not only in India but as a key voice in the internationalization of Ayurveda.### Kapiva Secures $60 Million Series D, Accelerates Domestic and International Expansion
Funding Trajectory and Strong Revenue Growth
Kapiva’s funding journey began with a 2019 $2.5M Series A from Fireside Ventures, a $2M follow-up in 2020, and $11M Series B in 2021. Subsequent rounds included a $28M Series C (3one4 Capital, OrbiMed, Vertex Ventures, 2022), and a $10M boost from OrbiMed Asia in late 2024, culminating with the fresh Series D. The company now operates at a reported annual revenue run rate (ARR) of ₹550 crore. Financial details for the past cycles include:
- FY22: Revenue of ₹59 crore, loss of ₹48 crore.
- FY23: Revenue jumped 93% to ₹114.5 crore; loss widened to ₹64.6 crore, attributed to heavy marketing and team costs.
- FY24: Revenue nearly doubled again to ₹228.6 crore; losses trimmed by 25% to ₹48.2 crore on operational efficiencies.
Major cost heads include marketing (35% of overall FY23 spend), team expansion, and steady investments in product and digital capabilities. Kapiva expects to reach breakeven shortly, with stronger gross margins and improved cost discipline.
Modern Ayurveda: Unique Products, Personalization, and Tech-Led Distribution
Founded by Ameve Sharma and Shrey Badhani in 2016, Kapiva stands out for blending traditional ayurvedic heritage with scientific validation and convenient formats—offering 100+ SKUs spanning gummies, juices, supplements (notably for diabetes, gym/sports, energy, heart, liver, and skin health), as well as direct-to-consumer digital ayurvedic consultations. Its diabetes supplement is a market leader, and international subsidiaries in the UK, US, and UAE already contribute up to 10% of total revenue.
Sector Landscape: Major Competitors and Ayurveda’s D2C Boom
India’s ayurveda and natural wellness sector is scaling rapidly, valued at ₹1.9 lakh crore ($22B) in 2025 and growing 15%+ YOY. Modern D2C leaders include:
- Legacy giants: Dabur, Patanjali, Himalaya, Baidyanath.
- D2C-first disruptors: OZiva, Wellbeing Nutrition, Gynoveda, Dr. Vaidya’s, Cureveda, Upakarma—pioneering digital, influencer-led, subscription, and international strategies.
- Digital commerce, private label, and product innovation pipelines are accelerating, with functional nutrition and targeted wellness categories seeing the highest traction.
Competitors like Gynoveda and Wellbeing Nutrition have recently raised funds, expanded global footprints, and scaled health-tech services. Dabur and Himalaya have focused on R&D and endorsements, while Patanjali continues to drive mass adoption.
Outlook: Next-Gen Ayurveda Brands Go Global
Kapiva’s innovation—integrating tradition, digital care, and global distribution—exemplifies the surge in modern ayurveda startups addressing chronic, preventive, and lifestyle wellness. Investor appetite for such brands, especially those showing operational discipline and omnichannel consumer reach, remains robust. India’s Ayurveda export market now tops ₹18,000 crore, with US, Europe, and the Gulf as key destinations.
