NirogStreet, a platform that promotes Ayurveda, said that it has raised a pre-series B round of additional $1 million (around Rs 7 crore) to deploy in building business-to-business-to-consumer (B2B2C) technology solutions for the Ayurveda community, the company said in a statement on Tuesday.
The company witnessed investments from Namrata Ganatra, VP Technology, Thrasio; Amit Midha, Dell APAC, and Singapore-based RB Investment. Ganatra has recently been appointed as NirogStreet’s Product and Technology Advisor.
This is part of the round that first took place in December when the company raised $4 million (around Rs 30 crore) led by CE-Ventures.
Founded in 2016, NirogStreet is a Mumbai-based technology-driven community and social commerce company that enables doctors to leverage technology to run their clinics, 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.
“Ayurveda has always been acknowledged as a holistic science and sustainable healthcare. But people did not know how to connect with authentic doctors and get authentic medicines. We have dedicated our energy to solving this problem with technology and digitisation to take Ayurveda from India to the world," said Ram N Kumar, Founder and CEO, NirogStreet.
Last year, in December, the company raised $4 million (around Rs 30 crore) and raised another $2.5 million (Rs 21 crore) in a series A funding round in July. Prior to that, in 2020, NirogStreet had raised $2 million (Rs 14.6 crore) in a pre-Series A funding exercise.
More than three years ago in 2018, the company had raised $300,000 (Rs 2 crore) in a seed round, led by Japanese venture capital (VC) firm Spiral Ventures. In the same year, it acquired Brahm Ayurved, a 60,000 member-strong community of ayurvedic doctors.