NirogStreet Co-Founder and COO Robin Jha and Founder and CEO Ram N Kumar (R)
NirogStreet, an Ayurveda tech startup based in Delhi, India, has received US$12 million in a Series B round of funding led by Jungle Ventures.
Existing investors Spiral Ventures, ICMG Co-Creation Fund (managed by ICMG Partners), DoorDash’s Gokul Rajaram, SMBC APAC co-head Rajeev Kannan also participated. Besides, the family office of Anthony Weldon also co-invested.
“This new fundraise will help us strengthen our supply chain, service offerings and tech that will help us realise the vision we are working to achieve,” Ram N Kumar, Founder and CEO of NirogStreet, said.
With technology-based interventions, NirogStreet enables doctors by giving technology to run their clinic, access to quality medicines inventory in real-time, and avenues to learn and earn while also closely working with the government, regulators, and research organisations.
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It has over 50,000 Ayurvedic doctors in the community and encourages them to create and publish case studies and research reports to bring evidence-based treatment similar to modern medicine.
In addition, NirogStreet has built an end-to-end supply chain infrastructure for Ayurvedic medicines. The company has created a verified marketplace of Ayurvedic medicines from which doctors can directly order and fill prescriptions while staying on the platform. NirogStreet manages the fulfilment direct to the customer door.
In December last year, NirogStreet secured US$4 million in funding led by CE-Ventures.
As per government estimates, there are over one million AYUSH doctors in India, of which the majority are Ayurveda practitioners. Over 600 AYUSH medical colleges introduce over 30000 new medical graduates every year. The industry has grown significantly over the years, and as per government of India releases, it is a massive 18 billion category, primarily led by practising and prescribing doctors. The recent pandemic has also increased the awareness of preventive healthcare, and there is an evident underlying shift in consumers’ attitudes toward Ayurveda and natural healing.
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