Of the total, $28 million was primary capital and $32 million was secondary transactions through which early investor Fireside Ventures will be exiting, Kapiva founder Ameve Sharma told ET.
The brand plans to use funds for research & development of new products, strengthening its manufacturing capabilities and expanding presence in new geographies.
“This was our pre-IPO fundraise and now we will be moving towards our IPO years,” Sharma told ET. The company plans to have its IPO in the next 2-3 years.
Kapiva’s key categories include products for diabetes, energy, sports, nutrition, liver and heart. These products are sold through its own direct-to-consumer website, marketplace and offline stores. Currently, the brand has presence in over 40,000 offline stores, which is its fastest growing channel, and aims to get to 1 lakh offline stores within a year.
“We are trying to reimagine Ayurveda for its current role within the larger healthcare system not only in India but also globally,” said Sharma. Currently, Kapiva has subsidiaries in UAE, US and UK that contribute 5-10% to its overall revenue annually.
The brand is also seeing rapid growth on quick commerce apps which contributes 10% of its revenue. Over the past three years, Kapiva has seen an 80% year-on-year growth with an annual revenue run rate (ARR) of over Rs 550 crore.
The supplements market has seen increased consumption after the Covid-19 pandemic and ayurvedic products, especially, are seeing growing customer interest with a push from the central government to promote these products.
The growing popularity of supplements and healthcare products among customers has seen venture capitalists investing in the sector. According to data firm Venture Intelligence, the sector raised more than $500 million between 2020 and May 2025.
Gut health startup The Good Bug has raised about $12 million in a round led by Susquehanna Asia Venture Capital. In May, ET had written about India’s booming health supplement market, fuelled by increased health awareness post Covid-19 and social media marketing.
