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NirogStreet Raises $4M Pre Series B Round

NirogStreet, is India’s first and one of the world’s fastest growing technology led end to end Ayurveda doctor platform. The startup is at the helm of offering seamless services to over 50,000 doctors on its peer-to-peer learning, Electronic Health Record and reseller; and e-commerce platform with a focus on strategic deployment of technology. Now, with US$4 million in new funding, the company aims to scale up its presence and make a mark by bringing Ayurveda doctors, patients and quality medicines on a tech enabled trustworthy platform. The company has also elevated Robin Jha as the Co-Founder of the company to fuel its operation in India and abroad.

The rising threat of Omicron has once again prompted countries across the world to focus on preventive healthcare and stressed upon the need to mainstream Ayurveda. Public healthcare experts are also of the opinion that a holistic science of medicine is the best way to ensure universal health coverage and prevent the spread of newly emerging diseases across the globe. 

The US$4 million Pre Series B round was led by CE-Ventures, the Corporate Venture Capital platform of Crescent Enterprises and ICMG, with participation from Gokul Rajaram, board member at Coinbase and Pinterest; Wavemaker partners, Samir Kumar; Anuj Srivastava, Founder at Livspace; Rajeev Kannan, Management Executive officer at Sumitomo, Singapore; Suresh Vasudevan, CEO of Sysdig USA; Ramakant Sharma, Co-founder of Livspace, Andy Hwang, Ex Google Executive, Ashutosh Sinha, former CEO at Morgan Stanley , Dr. Kyohei Takano, a Tokyo based Gynecologist, Arup Dutta, VP of Global Quantitative Equity at Mackenzine Investments and Lalit Mittal, Head, Livspace Interior Business . The funds would be used to innovate service and product offerings for Ayurveda doctors, scale-up and strengthen the company operations, particularly the “go to market team and technology.” NirogStreet products are evolving too, with the team on mission to amplify quality services with actionable insights to the partner doctors.

By driving futuristic technologies, strengthening authentic medicine manufacturing ecosystem, creating excellent social commerce offerings along with a robust network of Ayurveda doctors across the globe, the company excels to become the most aspiring global Ayurveda brand. 

Ram N Kumar, Founder & CEO, NirogStreet said, “The world has started admiring Ayurveda as their first call for preventive and curative healthcare. We are confident that our continuous efforts in mainstreaming Ayurveda have started mainstream conversations, rebuilt perceptions and reassured on the fact that this most effective and ancient medicine science is a gift from India for the world. NirogStreet is the only start-up in the world to create the most powerful and engaging technology platform that allows ease of access to Ayurvedic healthcare and other traditional medicine healthcare through technological interventions. In a short span of time we have proudly built a robust ecosystem of end to end high-quality Ayurveda healthcare and are consistently amplifying new income generation avenues for Ayurveda doctors along with the creation of supportive infrastructure for SME medicine manufactures to reach out to a larger base of distribution through doctors.”

“We are preparing ourselves to become the world’s fastest growing Healthcare company. With such visionary investors on board, we are fast moving towards our goal of transforming the global health care landscape by making Ayurveda doctors and other traditional medicine practitioners a part of the mainstream health care system.”, he further added.

Tushar Singhvi, Deputy CEO and Head of Investments, Crescent Enterprises commented, “We are excited to embark on this journey with Nirogstreet. The company has demonstrated the immense value and opportunity within the Ayurveda market, which is projected to reach $9.5 billion by 2024, as well as the limitless possibilities that tech-enabled solutions can offer. I believe, pooling our experience and talents together, we will make a powerful team. CE-Ventures looks forward towards a fruitful partnership, one that will champion the growth of the Nirogstreet both within the core market in India and outwards into the MENA region.”

Talking about the investment, Gen Funahashi, CEO at Japan Based Venture Capital, ICMG Partners, said, “NirogStreet is not just a simple Ayurveda E-commerce platform, it brings much more value to the industry than that. I believe that NirogStreet directly addresses many shortcomings of the current Ayurveda industry. This includes enhancing the supply chain as well as building trust between all Ayurvedic Stakeholders (suppliers and doctors, doctors and patients, vice versa”). Most importantly, the platform supports the availability of quality healthcare to people of different socio-economic backgrounds. As the company expands and reaches a larger market, the social significance of this investment will be reflected through the countless people that will be able to access high quality Ayurveda healthcare.”

Digitisation of Ayurveda healthcare has become the need of the hour. The Ayurveda community all across is finding NirogStreet extremely valuable to connect seamlessly with their patients and get easy access to high quality medicines along with a high-level exposure to evidence-based knowledge. NirogStreet is taking connected healthcare in Ayurveda to next level by enabling a unique and trustworthy ecosystem offering doctor centric solutions in the new informed world for their patients. For the first time, Ayurveda medicine practitioners can now track their inventory, get access and ensure timely delivery of high quality medicines for patients and pharmacies, along with peer-to-peer learning and clinic management systems.

Source: Business World

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