D2C Startup Auric Raises Funding From Venture Catalysts And 9Unicorns
The brand aims to break the lucrative $5 billion worth Ayurveda and supplements industry by championing a scintillating array of world-class consumer products
Integrated incubator and accelerator Venture Catalysts has recently said to have co-led the $2 million pre-Series A funding round for Auric, an Ayurveda-based contemporary health and wellness brand. The funding was co-led by Cactus Venture Partners and 9Unicorns. The funding round also witnessed participation from other eminent investors such as Karthik Bhat via AngelList and Capital-A (Manjushree Ventures).
Auric is essentially a novel and aspirational direct-to-consumer (D2C) brand creating innovative and convenient lifestyle products by blending Ayurveda with the benefits of modern sciences.
It aims to break the lucrative $5 billion worth of Ayurveda and supplements industry by championing a scintillating array of world-class consumer products.
"Since our inception three years ago, we have been steadfast in our mission to introduce Ayurveda in the daily lifestyle of millennials. We are wholeheartedly committed to the idea of empowering the country's millennials with ancient wisdom that works for them. This timely fundraise will indeed prove instrumental in bringing us one step nearer towards reconnecting the mind, body, and soul of people around us," said Deepak Agarwal, founder, Auric.
Auric is founded by Deepak Agarwal, an IIT- Delhi alumni with over 8 years of experience with Hindustan Unilever across India, Switzerland, and Singapore. The startup operates in the mass-premium segment at the crossroads of consumer goods and supplements. It has a unique range of Ayurveda-inspired, coconut-water-based drinks for beauty and wellness drinks for healthy skin, balanced weight, and stronger hair being some of the examples.
"Riding on the promise of Ayurveda and scientific excellence, Auric is a new-age brand that has the potential to take the 5 billion dollar Ayurveda market by storm through its dazzling range of customized and unique products. We wholeheartedly believe in the disruptive capability of this company based on the exemplary dedication exhibited by Auric's founding team towards realizing its long-term as well as short-term objectives. Through this funding, we are pleased to have played an integral part in helping the company realize its overarching vision. We would also like to take this moment to assure them that they will find us backing them at every step on their journey ahead. We wish them all the success in the world as they deserve every bit of it," added Dr. Apoorva Ranjan Sharma, co-founder, and president, Venture Catalysts.