Ayurvedic beverage startup, KivaShots, with plans for expansion has raised funding in its first round. KivaShots was founded by Shalabh Gupta in 2016 as a means of enlivening the ayurvedic food and beverage industry and enticing people to try the healthcare drinks, Gupta said. The company produces ayurvedic beverages in shot form of 40ml which each of the seven offering a different purpose.
Max Life Insurance CEO Rajesh Sud, Max Healthcare MD Rajit Mehta, Ward Ferry Management chief information officer Vineet Mitera, MindTickle co-founder Mohit Garg, Zomato co-founder Pankaj Chaddha, and Startup Buddy co-founder Amit Singal were all investors in the round.
The Gurugram-based startup plans on using the funds raised to expand, in terms of geography, the product itself and in terms of marketing.
“We intend to start exploring the markets in the US, UK and Middle East in 2018,” Gupta said.
According to Gupta, the sector of ayurvedic food and beverages is one that is progressing with a growth of 25-30 percent each year over the previous one. He said the sector the startup falls into is currently worth Rs 15,000 crore. KivaShots has found there to be an equal market both in India and internationally for products such as theirs, one worth over Rs 1,500 crore.
(Picture courtesy: https://kivalife.in/)