VAHDAM® India, a native Indian wellness brand which has brought India’s finest teas, spices & superfoods to markets like the US, Canada, Europe & more has raised INR 174 crore in its Series D Round led by IIFL AMC’s Private Equity Fund.
The existing investors include a consortium of Sixth Sense Ventures affiliates, the Mankind Group Family Office, Infosys Founder Kris Gopalkrishnan’s Family Office, Urmin Group and White Whale Ventures also participated in this round, continuing to back the fast-growing consumer business.
Following this round of investments, the total funding raised by the company till date is over INR 290 crore.
The amount raised will be utilized to expand the company’s distribution – both online & offline, enter new geographies and foray into new complementary categories. The company is working on a vision to take native Indian products to global markets, with a focus on the wellness category.
VAHDAM® India closed FY20-21 with net revenue of over INR 160 crore growing 110% YoY from a revenue of 75 Crores in FY19-20, while achieving net profitability. The company is now aiming to reach 500 crores in revenue over the next 3 years.
VAHDAM® India was founded in 2015, by Bala Sarda (Forbes 30 Under 30, Entrepreneur 35 Under 35, BW 40 Under 40) with a mission to build a home-grown Indian brand for the world. With direct sourcing from farms & estates across India, in-house manufacturing in their 100,000 sq. ft. state-of-the-art facility in NCR, local distribution in key markets like the USA, Canada, Europe, strong customer love & organic endorsements by global celebrities like Oprah Winfrey, Mariah Carey & more – the company is executing a unique digital playbook of creating strong & scalable consumer brands globally.
Bala Sarda, Founder & CEO says, “The pandemic has accelerated our growth, given the shift towards high quality and trusted wellness products, and larger adoption of e-commerce globally. We are excited to have IIFL AMC join our mission of building one
of India’s most loved consumer brands in global markets. With the current fundraising, we plan to continue deepening our distribution in key markets, both online & offline. We will also look at entering new categories, new markets, invest heavily in R&D and further strengthen our management team.
Chetan Naik, Fund Manager, Private Equity at IIFL AMC, says “VAHDAM is a rare example of a company, which has successfully taken products of Indian origin to global markets. With its superior quality and innovative blends, VAHDAM has been able to create a premium brand and reach out to global consumers via digital channels. It is remarkable that the company under the leadership of Bala has been able to execute this by being highly capital efficient and achieving EBITDA profitability.”
With offices in the US & Europe, VAHDAM® India has been endorsed by global icon Oprah Winfrey and has won over 35 awards globally last year, including the SOFI 2018, 2019 & 2020, Great Taste 2019, 2020 & several other recognitions. VAHDAM® India was also awarded the Global SMB of the Year by Jeff Bezoz during his trip to India last year. It was recently recognized as a Forbes 100 To Watch Companies in Asia.
DC Advisory was the exclusive advisor to VAHDAM® India on this transaction.