To extend the reach of ayurvedic medicines, build trust for doctors and mainstream Ayurveda healthcare, NirogStreet, India’s first technology-led Ayurveda platform has secured $ 2 million in Pre -Series A Funding. The funding is led by Wavemaker Partners and Amand Ventures. Existing investor Spiral Ventures also participated in this round.
The startup will utilise the capital for deeper penetration, strengthen technology platform and digitise supply chain. The funds acquired by this young company would be dedicated to strengthening its reach and offering to the Ayurveda doctors.
The company aims to strengthen its reach and offering by providing an engaging technology platform and building a network of world-class certified Ayurvedic clinics for the delivery of world class services to patients in the challenging health environment.
NirogStreet is exclusively catering seamless services to over 50,000 doctors on its peer to peer learning, patient engagement and e-commerce platform. From a wide network of 200 NirogStreet certified Ayurvedic clinics, the company aims to expand to 5000 clinics by 2022. With the growing adoption and demand of Ayurveda across the world, the brand has plans to expand globally.
Ram N Kumar, Founder, NirogStreet said, “Ayurveda has demonstrated its leadership in the time of Covid-19 and we played an important role in making Ayurveda mainstream. Ayurveda has huge potential to bring India on the centre stage of world healthcare. As a B2B2C technology-enabled and doctor-led platform, we are consistently streamlining the supply chain of Ayurvedic services and medicine, transforming it into a proper healthcare system by engaging and empowering Ayurveda doctors and clinics to create an experience that patients can trust.”
Paul Santos, Managing Partner of Wavemaker Partners said, “Ayurvedic medicine is one of the world’s oldest holistic (“whole-body”) healing systems. It was developed more than 3,000 years ago in India. Ayurveda has provided relief and treatment for chronic conditions for thousands of years. However, it is plagued by non-standardised doctors and medicines. There are 600 thousand certified Ayurveda doctors but millions of unqualified practitioners. This leads to low trust and satisfaction among patients. NirogStreet has been doing some groundbreaking work in mainstreaming Ayurveda discipline not just in India but across the globe by strengthening the trustworthy Ayurveda practitioner fraternity in India and nurturing the sustainable healthcare ecosystem by capacity and knowledge building. We’re proud to back Ram and his team at NirogStreet.”