India’s Ayurveda tech startup, NirogStreet, has raised USD 12 million in Series B funding led by Jungle Ventures. Existing investors Spiral Ventures, ICMG Co-Creation Fund (managed by ICMG Partners), DoorDash’s Gokul Rajaram, and SMBC APAC co-head Rajeev Kannan also participated in the round, along with the family office of Anthony Weldon, which comes on board as a new investor.

The rapid growth and adoption of NirogStreet is a testament to the urgent need gap in the Ayurvedic industry. With over 50,000 Ayurvedic doctors in the community, NirogStreet has created a learning enablement and knowledge-sharing platform for practitioners, something that never existed before. Additionally, to ensure a quality guarantee on medicines and fill a huge gap in this industry, NirogStreet has built an end-to-end supply chain infrastructure for Ayurvedic medicines. The company has created a verified marketplace of Ayurvedic medicines from which doctors can directly order and fill prescriptions, all while staying on the platform, while NirogStreet manages the fulfillment direct to the customer’s door.

Anurag Srivastava, Founding Partner at Jungle Ventures said, “NirogStreet is transforming the entire Ayurveda value chain by infusing trust, quality, access, and scale into the industry. Ram and his team are building an industry-first Ayurveda ecosystem with their unique community-first, knowledge, and commerce approach that transcends from ingredients to consumers. We are incredibly excited to be a part of the team, and we are confident that our extensive experience, strong global network, and deep industry expertise will accelerate the next stages of growth of the company.”

Ram N Kumar, Founder & CEO, NirogStreet said, “We are excited and thankful to our partners. Our goal of improving healthcare globally through technology and ayurvedic solutions is scaling and strengthening. We are streamlining the supply chain of Ayurvedic services and medicines to enable doctors to deliver trusted healthcare and working towards making Ayurveda the first call of treatment. This new fundraising will help us strengthen our supply chain, service offerings, and tech which will help us realise the vision we are working to achieve.”

As per government estimates, there are over one million AYUSH doctors in India, of which the majority are Ayurveda practitioners. One of the most unorganised industries, there are over 600 AYUSH medical colleges that introduce over 30,000 new medical graduates every year. The industry has grown significantly over the years, and as per government releases, it is now a massive 18-billion category, primarily led by practicing and prescribing doctors. The recent pandemic has also increased awareness of preventive healthcare, and there is an evident underlying shift in consumers’ attitudes toward Ayurveda and natural healing. Leveraging this huge potential of the industry, NirogStreet is working towards bridging the age-old technology gaps in the entire ecosystem and connecting the missing dots by infusing trust, empowering practitioners, promoting doctor community engagement, digitising preventive care, and encouraging a world-class quality medicine ecosystem.

Recently, Prime Minister Narendra Modi made a reference to NirogStreet in his monthly address to the nation, ‘Mann Ki Baat’, in reference to the startup’s sustainable contributions towards capacity building, community building, and the promotion of Ayurvedic healthcare.

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