NirogStreet, a venture that promotes Ayurveda, raised a pre-series B round of $1 million to build it's B2B2C technology solutions for the Ayurvedic community. The investments came from Namrata Ganatra of Thrasio; Amit Midha of Dell APAC, and Singapore-based RB Investment.
This funding round was a part of the round held in December 2020, where the company raised $4 million by CE-Ventures (CEIIF). Other investors were Crescent Enterprises and ICMG. The round also witnessed the participation of Gokul Rajaram, board member at Coinbase and Pinterest.
Founded in 2016 by Ram N Kumar, NirogStreet helps people connect with authentic doctors and get authentic Ayurvedic medicines. For this they use technology and digitisation to take Ayurveda from India to the world stage.
The platform claims that their Tele-Ayurveda allows Ayurvedic practitioners to consult patients across the globe. They have an estimated 50,000 clinicians. The Ayurvedic market is projected to reach $9.5 billion by 2024. The sector is unorganised and NirogStreet brings with it transparency and scalability.
In the year 2018, NirogStreet had raised $300,000 in their seed round, led by Japanese venture capital firm Spiral Ventures. They had their pre-Series A funding in 2020 where they raised $2 million by Amand Ventures and Wavemaker Partners.
Last year in 2021, they raised twice. First they raised $4 million and later $2.5 million. In 2018, NirogStreet acquired Brahm Ayurved, a 60,000 member-strong community of ayurvedic doctors.