Total amount raised
$24.7 Million
Latest funding date
11/1/2023
Location
NirogStreet has successfully raised funding through multiple rounds, with notable investors including Jungle Ventures and APPYHIGH. The platform is dedicated to mainstreaming Ayurveda by leveraging technology and a doctor-led approach.
Keep reading to explore the intricacies of NirogStreet's fundraising journey and the investors backing this innovative platform.
What Is NirogStreet?
NirogStreet, founded in 2016, operates in the healthcare sector with a focus on Ayurveda. The company is based in New Delhi, India, and was founded by Ram N Kumar and Robin Jha.
With an employee count ranging from 101 to 250, NirogStreet is a B2B tech-enabled and doctor-led platform. It aims to mainstream Ayurveda by streamlining the supply chain of Ayurvedic services and medicine, enabling doctors to deliver better healthcare to their patients.
How Much Funding Has NirogStreet Raised?
- Convertible Note
- Amount Raised: $3M
- Date: November 2023
- Lead Investors: Jungle Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support NirogStreet's mission to make Ayurveda the first call of treatment for people in India.
- Series B
- Amount Raised: $12M
- Date: October 2022
- Lead Investors: Jungle Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and expand market reach.
- Series B
- Amount Raised: ₹70M
- Date: January 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance their platform and services.
- Series A
- Amount Raised: $4M
- Date: December 2021
- Lead Investors: Crescent Enterprises Venture Capital, ICMG Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To streamline the supply chain of Ayurvedic services and medicine.
- Series A
- Amount Raised: $2.5M
- Date: July 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's growth and development.
- Seed Round
- Amount Raised: $2M
- Date: October 2020
- Lead Investors: Amand Ventures, Wavemaker Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fund initial operations and market entry.
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: June 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support early-stage development.
- Seed Round
- Amount Raised: $300K
- Date: June 2018
- Lead Investors: Spiral Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the company's operations.
Total Amount Raised: $23.8M
Current Valuation: Not publicly disclosed
Key Investors
- Jungle Ventures
- Details: Jungle Ventures is a venture capital firm that invests in early to growth-stage companies across Southeast Asia and India. They focus on sectors such as technology, consumer brands, and financial services.
- Investment Focus Areas: Technology, Consumer Brands, Financial Services
- Notable Investments: Kredivo, Livspace, Moglix
- Crescent Enterprises Venture Capital
- Details: Crescent Enterprises Venture Capital is a global venture capital firm that invests in technology, healthcare, and logistics sectors. They aim to support innovative startups with high growth potential.
- Investment Focus Areas: Technology, Healthcare, Logistics
- Notable Investments: Kitopi, FreshtoHome, Tarabut Gateway
- ICMG Partners
- Details: ICMG Partners is a venture capital firm that focuses on investments in technology, healthcare, and industrial sectors. They aim to support companies that drive innovation and growth.
- Investment Focus Areas: Technology, Healthcare, Industrial Sectors
- Notable Investments: Not publicly disclosed
- Amand Ventures
- Details: Amand Ventures is a venture capital firm that invests in early-stage technology companies. They focus on supporting startups with innovative solutions and high growth potential.
- Investment Focus Areas: Early-stage Technology Companies
- Notable Investments: Not publicly disclosed
- Wavemaker Partners
- Details: Wavemaker Partners is a venture capital firm that invests in enterprise and deep tech startups. They aim to support companies that are developing cutting-edge technologies and solutions.
- Investment Focus Areas: Enterprise Startups, Deep Tech Startups
- Notable Investments: Moka, Zilingo, Gojek
What's Next for NirogStreet?
NirogStreet is poised for significant growth, with a $3 million convertible note from Jungle Ventures and an additional $2 million in potential funding. This financial boost positions the company to capitalize on the rising interest in Ayurveda and alternative medicine in India. The health tech and wellness sectors are seeing increased investment, providing a fertile ground for NirogStreet's expansion.
Future fundraising opportunities appear promising, as the convertible note mechanism suggests potential for further equity conversion and investment. However, the company may face challenges such as competition from other startups and regulatory hurdles in the healthcare industry. Ensuring scalability while maintaining service quality will be crucial as NirogStreet navigates its growth trajectory.
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