Goodveda plans to raise USD 1 mn to fund growth plans

Goodveda, a D2C startup offering a range of supplements, ayurvedic remedies, snacks, and wellness programmes – expects a significant expansion in revenue and customer base, helped by the demand for healthy and convenient snack options. Founded in September 2023, Goodveda recently secured a pre-seed funding of Rs 2 crore. Moreover, to fund its expansion plans, Goodveda has plans to raise USD one million this year, he added. It currently has a revenue of Rs 1.9 crore and expects to have a turnover of Rs 12 crore in the current fiscal, Goodveda Founder and entrepreneur Abhishek Gaggneja said. Goodveda currently has a user base of over 20,000 and its monthly revenue has increased to Rs 87.8 lakh in July this year. In the June quarter, it had a business of Rs 1.74 crore. The company aims to become a known nutritional food brand in India, expanding its offerings and reach, Gaggneja said. The D2C brand currently has 12 SKUs, which are mainly focused on diabetes, liver health, obesity and heart diseases.
After the pandemic, people have become more health conscious and their faith in the Indian traditional healthcare system as Ayurveda has increased, he said.
“With growing urbanisation and changing lifestyles, now Ayurveda people are experiencing significant growth and attracting strong investor interest,” Gaggneja added.
Moreover, schemes such as Ayush Mark Certification, which is overseen by the Quality Council of India (QCI), certifying ayurvedic medicines based on GMP and WHO guidelines, ensure safety and efficacy.
This has not only enhanced the faith of customers but also the investors in this ancient Indian traditional system, he added