Kapiva, a wellness brand focusing on Ayurveda, has secured $60 million in Series D funding, one of the year’s largest funding rounds for direct-to-consumer (D2C) brands. 360 ONE Asset and Vertex Growth led the round, with backing from existing investors Vertex Ventures Southeast Asia and India, and 3one4 Capital. Fireside Ventures, an early investor, exited during this round.
This investment underscores Kapiva’s position as a fast-growing D2C brand and shows increasing investor confidence in both Ayurveda-based D2C products and wellness-oriented D2C startups in India. $28 million of the total funds will go directly into the company as primary capital. The remaining amount facilitated a secondary transaction, allowing Fireside Ventures to sell its stake. The funding round began in September 2024 with a $10 million investment from OrbiMed Asia, Vertex Ventures, and 3one4 Capital. Overall, Kapiva has now raised close to $90 million, making it a top-funded D2C brand in India.
Kapiva plans to use the new funds for research and development, improving its manufacturing infrastructure, and strengthening its brand. These are key steps in its plan to expand across the wellness and nutrition sector in India. The company also aims to enhance its health-tech platform, focusing more on managing chronic conditions and offering care that is more personal. This area is gaining popularity in the D2C market.
Ameve Sharma and Shrey Badhani started Kapiva in 2015. The company offers nutrition products based on natural, organic, and Ayurvedic principles, targeting areas like diabetes, high blood pressure, liver health, hormone balance, energy, sports nutrition, and general wellness. What began as one of the newest D2C startups in the health space has grown into a sizeable D2C business. Kapiva’s products can be found on its website, major online marketplaces, and in about 40,000 stores nationwide.
Kapiva has achieved growth in revenue. The brand is currently generating about ₹550 crore annually, up from ₹350 crore in FY25. It has increased sales by more than 80% each year for the past three years while also reducing losses. Though still slightly EBITDA negative, Kapiva is nearing breakeven and expects to become profitable soon. In FY24, the company doubled its revenue to ₹228 crore and decreased losses to ₹56 crore, indicating progress toward sustainable growth.
This success story puts Kapiva in the spotlight for investors and those watching for potential initial public offerings (IPOs), as large funding rounds and achieving profitability often precede moves in the capital markets. Fireside Ventures’ exit further confirms Kapiva’s value, illustrating how early investors are benefiting as the D2C category matures.
Kapiva faces competition from other D2C wellness startups like Innovacare, Gynoveda, and Wellbeing Nutrition. Its scale, growth rate, and success in attracting investors position it as a leader. Kapiva’s story shows how D2C brands rooted in Ayurveda, consumer trust, and a mix of online and offline sales can achieve high performance.
