New Delhi | 8th July 2020: Venture Catalysts, India’s first, largest and pioneering integrated incubator and accelerator platform, has invested an undisclosed amount in herbal OTC products brand Green Cure. This round was led by Gunvanth Vaid, founder of 4G Capital and ACG World who are part of Venture Catalysts. Green Cure will utilize the fresh capital to further scale up its operations and launch products into new categories.
Founded by IIM Calcutta alumnus and ex-BCG consultant Sanchit Garg and Six Sigma Black Belt-certified professional Sanjeev Dadhich, Green Cure envisions to create a global brand in herbal OTC products which stand for high efficacy and safety standards. Its products are created by a team of German scientists and Ayurveda experts who blend Western technology with Indian wisdom of Ayurveda to develop proprietary solutions for chronic ailments.
Speaking on the investment, Sanchit Garg, Director, Green Cure commented, “The COVID-19 pandemic has made the world shift its focus towards herbal products that can address chronic health ailments. Built on the ancient science of Ayurveda, Green Cure aims to promote the concept of holistic living among Indians. Leveraging German Technology along with India Ayurveda has created a strong differentiation in a sea of ayurvedic brands. The latest funding gives us more firepower to ramp up our operations and foray into new product categories.”
Sharing his insights, Dr Apoorv Ranjan Sharma, President and Co-founder, Venture Catalysts, added, “While Ayurvedic practices have been in existence since ancient times, there has been a recent rediscovery of Ayurveda and its benefits to improve wellness and quality of life. What distinguishes Green Cure from other players is the fact that it has managed to create products that are made from traditional herbs and developed through modern techniques. The global Ayurvedic market is estimated to reach $9.7 billion by 2022 and we believe Green Cure has the potential to capitalize on this market and strengthen its position as a mass premium brand for herbal/Ayurvedic OTC products”.
Speaking on the investment, Karan Singh, Managing Director ACG “As the world turns to ancient medicine for physical health and mental wellness, the opportunity is ripe for India to leverage and scale its ayurvedic knowledge accumulated over centuries. I am proud to back Green Cure that shows potential to develop a host of products that can address the growing prevalence of lifestyle and chronic diseases.”
Speaking on the investment, Karik Rajendran, Head – India Hospital Business at Abbott says “I invested in Green Cure because it has the potential to become the first organized digital brand in the herbal medicine space. Herbal medicine is an under penetrated category with legacy players, very few credible products and I think Sanchit is a founder who can build the next Sun Pharma in this category. ”
Green Cure has already applied for 13 patents for its formulations. The company is also certified Made Safe by Safe Cosmetics Australia and recognized by Namo Gange for outstanding achievement in the field of AYUSH (Ayurvedic, Yoga and Naturopathy, Unani, Siddha and Homeopathy).