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D2C platform The Ayurveda Experience (TAE), which sells products in over 20 countries, expects to become profitable in this fiscal year after garnering strong growth in FY23. The health and wellness start-up clocked revenues of ̥₹270 crore in FY22-23 up 91.48 per cent compared to ₹141 crore in FY21-22.
TAE is backed by marquee investors such as Anicut Capital, Fireside Ventures, The Kalpavriksh Fund (Centrum Group), Sharrp Ventures (Mariwala Family office), Riverwalk Ventures, Singularity Ventures, Emerge Capital among others.
Rishabh Chopra, Founder & CEO, TAE, told businessline, “ This growth in revenue over the years can be mainly attributed to launching new products that help solve user concerns, rampant growth in our European markets, and significant optimisations in our advertising cost-to-revenue ratio and promotion costs as a ratio of revenue.”
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“We expect to be profitable in the current FY 2023-24. We were already profitable in the USA and Canada in FY23, “ he added.
Investing in new product development: CEO Rishabh Chopra
Founded in 2010, TAE has built its Ayurveda-focused D2C platform for its consumers in North America, Europe, and Australia, it also has a significant presence in India as well. It offers a range of products in categories such as skin care, body care, personal care, and supplements. The company has raised ₹105 crore of primary capital and about ₹30 crore of secondary shares purchased by investors.
“ North America is our biggest market but we have seen rapid adoption of Ayurveda products in European markets in recent times,” Chopra said.
TAE opened its first standalone brand store in the US in October 2022 and plans to adding another store this quarter.
Talking about future investment plans Chopra said, “We are actively investing in new product development/research. enhancement of existing products and scientific/ clinical trials. We are also investing in supply chain technologies, and technologies to help recommend products better to our users/personalize the purchase experience for our users.”
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