Delhi-based wellness startup Green Cure has raised undisclosed amount of funding from Venture Catalysts. The round was led by Gunvanth Vaid, Founder of 4G Capital and ACG World, which are part of Venture Catalysts.
Green Cure, which sells herbal OTC products, said it will utilise the fresh capital to further scale up its operations and launch products in new categories.
Founded by IIM Calcutta alumnus and ex-BCG consultant Sanchit Garg and Six Sigma Black Belt-certified professional Sanjeev Dadhich in 2015, Green Cure claims that its products are created by a team of German scientists and Ayurveda experts who blend modern science with ancient Indian ayurveda to develop proprietary solutions for chronic ailments.
Speaking on the investment, Sanchit Garg, Director, Green Cure, said,
“The COVID-19 pandemic has made the world shift its focus towards herbal products that can address chronic health ailments. Built on the ancient science of Ayurveda, Green Cure aims to promote the concept of holistic living among Indians. Leveraging German Technology along with India, Ayurveda has created a strong differentiation in a sea of ayurvedic brands. The latest funding gives us more firepower to ramp up our operations and foray into new product categories.”
Green Cure has so far applied for 13 patents for its formulations. The company is also certified ‘Made Safe’ by Safe Cosmetics Australia and recognised by Namo Gange for outstanding achievement in the field of AYUSH (Ayurvedic, Yoga and Naturopathy, Unani, Siddha, and Homeopathy).
Apoorv Ranjan Sharma, President and Co-founder, Venture Catalysts, added, “While Ayurvedic practices have been in existence since ancient times, there has been a recent rediscovery of Ayurveda and its benefits to improve wellness and the quality of life. What distinguishes Green Cure from other players is the fact that it has managed to create products that are made from traditional herbs and developed through modern techniques.”
According to his estimates, the global Ayurvedic market is estimated to reach $9.7 billion by 2022, and Green Cure has the potential to capitalise on this market and strengthen its position as a mass premium brand for herbal/Ayurvedic OTC products.