NirogStreet raises Rs 2 crore from Spiral Ventures

New Delhi: India's first technology-led Ayurveda platform, NirogStreet on Wednesday announced raising USD 300k (Rs 2 crore) from the Japanese venture fund Spiral Ventures, Subho Ray (President, IAMAI) and Samir Kumar (Director of Derivatives at Deutsche Bank, Singapore).

With the maximum focus on technological advancements, NirogStreet will work towards building back the trust and preference for Ayurveda treatment and practitioners across the world by encouraging evidence-based practices.

The funds will be utilized in spreading awareness and visibility about Ayurveda as the people are not appropriately aware of the benefits the ayurvedic treatment embodies and its rich medical knowledge.

"We are happy that we have found partners who have the same trust in Ayurveda as we have and are supporting the growth of our endeavors," said Ram N Kumar, founder, and CEO, NirogStreet.

"NirogStreet is a platform where doctors can interact with each other, share knowledge and buy high-quality medicines. In Ayurveda ecosystem, Ayurveda doctors, apart from consultation, also dispense medicines. We are working to provide high-quality medicine at right margin to the doctors at the doorstep. Our constant is trying to create a win-win scenario for every Ayurveda doctor as we help advance this great medical system at a global scale," he added.

"We look forward to a constructive development in this field. NirogStreet can play an important role for all stakeholders of the Ayurveda industry as well as healthcare," said spokesperson from the Japanese venture fund Spiral Ventures.

Adding to this, Subho Ray, President of IAMAI said that reviving the trust and accessibility of Ayurveda can bring multifold benefits and advantages for the community as well as people and open new opportunities and avenues in the Medicare world.

"What NirogStreet aims to accomplish will benefit both the people and the practitioners. Ayurveda is the future," added Director of Derivatives at Deutsche Bank, Singapore, Samir Kumar.

So far, NirogStreet is the most recognizable online brand in Ayurveda with over 15,000 doctors engaged on its platform so far.

However, the company aims to raise pre-series A funding in October 2018.