KivaShots lands funds from marquee angels

KivaShots, a Gurugram-based ayurvedic healthcare beverages startup, has raised an undisclosed amount of funding from several marquee investors.
 
The investors that participated in this first angel round are Max Life Insurance CEO Rajesh Sud, Max Healthcare MD Rajit Mehta, Ward Ferry Management chief information officer Vineet Mitera, MindTickle cofounder Mohit Garg, Zomato cofounder Pankaj Chaddha and Startup Buddy cofounder Amit Singal.
 
KivaShots operates in the Rs 15,000-crore Ayurveda food and beverages segment, which is growing 25-30% year-on-year, said KivaShots founder Shalabh Gupta. Gupta said he started KivaShots as he believed that there was a need to make Ayurveda more exciting for millions of customers, including himself.
 
As per the company’s calculation, the market size for these drinks in India is more than Rs 1,500 crore and an equally big market overseas. “We intend to start exploring the markets in the US, UK and Middle East in 2018,” said Gupta.
 
It plans to use the money for product development, marketing and geographical expansion. “We intend to start exploring the markets in the US, UK and Middle East in 2018,” said founder Shalabh Gupta.
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