Total amount raised
$24.7 Millions
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 a B2B tech-enabled and doctor-led initiative aimed at mainstreaming Ayurveda.
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 by Ram N Kumar and Robin Jha, is a tech-enabled and doctor-led platform based in New Delhi, India. The company focuses on mainstreaming Ayurveda through a B2B community commerce model.
With a workforce of 101-250 employees, NirogStreet aims to streamline the supply chain of Ayurvedic services and medicine, enhancing healthcare delivery. Their offerings include Nirog Partner, Buy Medicines, Consult Doctor by Concern Area, Panchakarma, Pulse Diagnosis, and Prakrati Analysis.
For more detailed information, you can visit their Crunchbase profile.
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 expand the platform's reach and enhance its technological capabilities.
- Series B
- Amount Raised: ₹70M
- Date: January 2022
- Lead Investors: -
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and increase market penetration.
- 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 scale operations and enhance product offerings.
- Series A
- Amount Raised: $2.5M
- Date: July 2021
- Lead Investors: -
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and improve supply chain efficiency.
- 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 develop the platform and initial market entry.
- Seed Round
- Amount Raised: -
- Date: June 2019
- Lead Investors: -
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support early-stage development and operations.
- 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 platform and initial product development.
NirogStreet has raised a total of $23.8M. The current valuation is not publicly disclosed.
Key Investors
- Jungle Ventures
- Details: Jungle Ventures is a Singapore-based venture capital firm that invests in early to growth-stage startups across Southeast Asia and India. They focus on providing long-term capital and strategic support to their portfolio companies.
- Investment Focus Areas: Technology, Consumer, Healthcare
- Notable Investments: Kredivo, Livspace, Moglix
- Crescent Enterprises Venture Capital
- Details: Crescent Enterprises Venture Capital is the corporate venture capital arm of Crescent Enterprises, a diversified conglomerate based in the UAE. They invest in 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 global investment firm that focuses on supporting companies with innovative business models and strong growth potential. They provide both financial and strategic support to their portfolio companies.
- Investment Focus Areas: Technology, Healthcare, Fintech
- Notable Investments: Not publicly disclosed
- Amand Ventures
- Details: Amand Ventures is a venture capital firm that invests in early-stage startups with a focus on disruptive technologies and scalable business models. They aim to support companies that have the potential to make a significant impact in their respective industries.
- Investment Focus Areas: Technology, Healthcare, Consumer
- Notable Investments: Not publicly disclosed
- Wavemaker Partners
- Details: Wavemaker Partners is a venture capital firm that invests in early-stage technology companies in Southeast Asia and the United States. They focus on supporting startups that leverage technology to solve real-world problems.
- Investment Focus Areas: Technology, Healthcare, Enterprise
- Notable Investments: Gojek, Zilingo, Moka
What's Next for NirogStreet?
With a fresh $3 million from Jungle Ventures and an additional $2 million on the horizon, NirogStreet is poised to capitalize on the growing interest in Ayurveda in India. The platform's mission to make Ayurveda the first call of treatment presents a significant opportunity to expand its user base and enhance its technological capabilities.
Future fundraising efforts seem likely as NirogStreet continues to scale operations and explore new markets. However, the company may face challenges such as competition from other health tech startups and regulatory hurdles in the healthcare sector. Convincing a broader audience to adopt Ayurveda as a primary treatment method will also be crucial for sustained growth.
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