Ayurvedic BPC worldwide market to expand to $30bn in 5 years
Citing that the Ayurvedic Beauty and Personal Care (BPC) category worldwide is expected to grow to US$30 billion in the next five years from the current US$12 billion, T.A.C – The Ayurveda Co says recently raised Rs.100 crore will be used to expand offline presence and improve product manufacturing.
Rs.100 crores in Series A funding round from India’s largest consumer VC fund, Sixth Sense Ventures, will also be used to expand research and development, and accelerate digital awareness around Ayurveda in the ecosystem.
The fund is also for plans to integrate and automate Dosha Consultation-based personalized skin, hair & wellness routines, said T.A.C.
Param Bhargava, Founder, The Ayurveda Co, said on 16 Mar from Gurgaon, “I am excited to see the tremendous growth potential in the Ayurvedic Beauty and Personal Care (BPC) category worldwide, which is expected to grow to US$30 billion in the next five years from the current US$12 billion. At the cusp of aspiration, affordability & accessibility, within six months, T.A.C has shown stellar retail seeding, expansion & growth pan India.”
Shreedha Singh, Co-founder & CEO, added, “Our Series A funding is a major milestone for T.A.C.
“It will help us bring Ayurvedic wellness to a wider audience, especially Millennials and Gen Z, and make Ayurveda mainstream.
“Our Kumkumadi face care for radiance and youthful skin is a fan favourite, and we look forward to creating more awareness about the efficacy of Ayurveda among the youth.”
Nikhil Vora, Founder & CEO Sixth Sense Ventures, vouched, “T.A.C is garnering shelf space in areas dominated by incumbents to become an omnichannel BPC brand.
“Furthermore, with rapid evolution of consumer preferences towards natural, and now Ayurveda-driven, T.A.C is addressing this with affordable pricing and accessibility across all TGs. Thrilled to partner with the super passionate and determined duo, Param and Shreedha to realise their vision!”
The round also saw participation from actress Kajal Agarwal, few notable start-up founders and venture debt funds. It was also seen on ‘Shark Tank India’ special episode number 51.
T.A.C positions itself as Ayurveda for the Young & Restless, popular amongst customers for its bestselling Kumkumadi, Eladi & Methi ranges. The brand has shown unprecedented growth over the past 10 months, growing over 300%, with a strong omni-channel distributor across retail touchpoints and online channels. T.A.C has recently forayed into global markets, starting with MEA region with its Dubai launch.
T.A.C has also established a strategic partnership with the Make a Difference (M.A.D), a not-for-profit organisation, to fund the education and empowerment of underprivileged girls in India. fiinews.com
