With a Customer Base from Over 190 Countries, Wellness Portal AyurUniverse Raises $1M for Technology Development
The startup would be using the funds raised in developing disruptive AI and VR technology to enhance customer experience on the portal
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AyurUniverse, Bengaluru-based an online health and wellness portal, accredited by the Ministry of Tourism, Govt. of India has raised $1 million from Air Deccan investor, the Ladhani family.
Founded by Vijay Kumar Karai in 2016, AyurUniverse is committed towards providing customised, authentic Ayurveda and Yoga packages towards Ailment management, Wellness and Training. The startup is disrupting the health & wellness travel space by offering customers a platform that allows them to search, choose and book a wellness package of their choice easily and seamlessly, without any intermediaries.
Understanding an individual’s tri-dosha is critical for any Ayurvedic treatment. At AyurUniverse, a team of empanelled expert doctors and yoga experts offer online consultation to customers who want to understand how Ayurveda can help manage their health concerns, while a team of multi-lingual wellness advisers are available 24*7 to help customers choose the right package at the right center, based on requirement and intent. The website uses advanced AI analytics to give its customers unbiased user rating of wellness centers.
With a customer base from over 190 countries, AyurUniverse provides access to over 2500 wellness packages from across 300 verified wellness centres in India, Sri Lanka and Nepal.
Commenting on the fundraiser, Vijay Karai, CEO, AyurUniverse said, “Wellness tourism is travel associated with the pursuit of maintaining or enhancing one’s personal well-being. This market includes two types of wellness tourists: those who take trips entirely for wellness purposes and those who seek to engage in wellness activities as a part of their trip. The emerging global middle class, rising disposable incomes, and growing consumer interest in health, travel, and new experiences are all fueling strong demand and propelling wellness tourism, which was pegged at $563.2 bn in 2015 and growing at an annual 10% CAGR.”
He further added, “We would be using the funds raised in developing disruptive AI and VR technology to enhance customer experience on the portal.”
Commenting about the investment, S.N. Ladhani said, " Indian Wellness such as Ayurveda and Yoga have immense potential in India and the rest of the world. However, the lack of credible marketing platforms have diluted and restricted the growth of these traditional wellness systems. AyurUniverse with its technology driven platform and customer centric approach, specifically addresses this issue and is uniquely positioned to promote Ayurveda and Yoga and disrupt the hegemony that western travel agents have over the holistic wellness market."
India’s wellness travel industry is estimated to be a $2.54 billion industry currently and estimated to double by 2020. According to Global Wellness Institute, the wellness economy, which encompasses 10 diverse sectors was worth an estimated $3.7 trillion in 2015 growing at a 10% CAGR. The wellness economy now represents more than 5% of global economic output and is almost half the size of all global health expenditures, which reached $7.6 trillion in 2014.
AyurUniverse, endeavors to make traditional wellness practices easily accessible to wellness enthusiasts from across the globe.
Other deals in this space include NirogStreet, an online platform that connects ayurveda doctors with patients, acquired Brahm Ayurved, a 60,000 member-strong community of ayurvedic doctors.
Last month, NirogStreet raised $300,000 (Rs 2 crore) in a seed round of funding led by Japanese venture capital firm Spiral Ventures.
Also, in January 2018, Gurugram-based ayurvedic healthcare beverages startup KivaShots secured an angel round led by a consortium of investors.
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