Vahdam India Raises INR 174 Cr In Series D Funding Led By IIFL AMC
The amount raised will be utilized to expand the company's distribution, both online and offline, enter new geographies, and foray into new complementary categories
Vahdam India, a native Indian wellness brand that has brought India's finest teas, spices, and superfoods to markets like the US, Canada, Europe, and more, on Wednesday, announced to have raised INR 174 crore in its Series D Round led by IIFL AMC’s Private Equity Fund.
The existing investors include a consortium of Sixth Sense Ventures affiliates, the Mankind Group Family Office, Infosys founder Kris Gopalkrishnan’s Family Office, Urmin Group, and White Whale Ventures also participated in this round.
The amount raised will be utilized to expand the company’s distribution - both online and offline, enter new geographies, and foray into new complementary categories. The company is working on a vision to take native Indian products to global markets, with a focus on the wellness category.
“The pandemic has accelerated our growth, given the shift towards high quality and trusted wellness products and larger adoption of e-commerce globally. We are excited to have IIFL AMC join our mission of building one of India’s most loved consumer brands in global markets. With the current fundraising, we plan to continue deepening our distribution in key markets, both online and offline. We will also look at entering new categories, new markets, invest heavily in R&D, and further strengthen our management team,” said Bala Sarda, founder, and chief executive officer, Vahdam India.
Vahdam India closed fiscal year (FY)20-21 with net revenue of over INR 160 crore growing 110 per cent year-over-year from revenue of INR 75 crores in FY19-20 while achieving net profitability. The company is now aiming to reach 500 crores in revenue over the next 3 years.
Vahdam India was founded in 2015 by Bala Sarda with a mission to build a home-grown Indian brand for the world. With direct sourcing from farms and estates across India, in-house manufacturing in NCR, local distribution in key markets like the USA, Canada, Europe, the strong customer love, and organic endorsements by global celebrities like Oprah Winfrey, Mariah Carey, and more - the company is executing a digital playbook of creating strong and scalable consumer brands globally.
“Vahdam India is a rare example of a company, which has successfully taken products of Indian origin to global markets. With its superior quality and innovative blends, VAHDAM has been able to create a premium brand and reach out to global consumers via digital channels. It is remarkable that the company under the leadership of Bala has been able to execute this by being highly capital efficient and achieving EBITDA profitability,” added Chetan Naik, fund manager, private equity, IIFL AMC.
DC Advisory was the exclusive advisor to Vahdam India on this transaction.
Following this round of investment, the total funding raised by the company to date is over INR 290 crore.