NirogStreet raises $300k to strengthen the technology-led Ayurveda platform

The start-up plans to employ these funds for technological advancement of their platform.

Jun 13, 2018 06:06 IST India Infoline News Service

NirogStreet, India’s first technology-led Ayurveda platform, has raised $300k (~Rs2cr) from the Japanese venture fund Spiral Ventures, Mr Subho Ray (President, IAMAI) and Mr Samir Kumar (Director of Derivatives at Deutsche Bank, Singapore).

The start-up plans to employ these funds for technological advancement of their platform that aims to make Ayurveda the first call of treatment globally. NirogStreet is working towards building back the trust and preference for Ayurveda treatment and practitioners across the world by encouraging evidence-based practices. The funds would also be used in spreading awareness and visibility about Ayurveda to make people appropriately aware about the benefits of ayurvedic treatment and its rich medical knowledge.

NirogStreet is India's largest and fastest growing platform of Ayurveda doctors that streamlines learning, sharing expertise, and exchange second opinion on treatments in real time through its mobile app. As of now, it is the most recognizable online brand in Ayurveda with over 15,000 doctors engaged on its platform so far. The company is looking to raise pre-series A funding in October 2018.

Talking about the new development, Ram Kumar, Founder and CEO, NirogStreet said, “Today, western medicine backed by a cohesive marketing push is the primary choice of healthcare. On the other hand, Ayurveda is still waiting to gain its place as the preferred system in modern healthcare. As a concept, Ayurveda has a huge level of trust in the country and across the world. 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. We are trying to create a win-win scenario for every Ayurveda doctor as we help advance this great medical system at a global scale.” 

Japanese venture fund Spiral Ventures’ spokesperson said, “Ayurveda has a promising advantage in the healthcare sector and there is a lot that has to be done. NirogStreet is a unique company propelling the ancient knowledge and science of Ayurveda. 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.”    

Subho Ray, the President of IAMAI (Internet and Mobile Association of India) said, “The use of technology to make Ayurveda mainstream is a novel and innovative concept driven by NirogStreet. ”    

Samir Kumar, Director of Derivatives at Deutsche Bank, Singapore, stated, “We are delighted to associate with NirogStreet in their objectives and efforts to build trust into Ayurveda practices and treatment and to augment this medicine system by the use of modern technology.”

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