NirogStreet, a technology-based Ayurveda platform has acquihired, Brahm Ayurved, one of the largest social and professional community of Ayurvedic doctors in India. Brahm Ayurved’s founder Abhishek Gupta is set to join NirogStreet as co-founder and Chief Marketing Officer.
NirogStreet, an online platform for discovering and booking Ayurvedic doctors was founded by Ram N Kumar in 2016. It is backed by Japanese venture fund, Spiral Ventures, which had recently invested $300,000 in the company. It is looking to provide Ayurvedic medicines to the people through its online platform.
NirogStreet will also be looking to raise pre-series A capital in October 2018.
Talking about the acquisition, Ram N Kumar, Founder, and CEO, NirogStreet said, “Brahm Ayurved joining in has strategically strengthened our organization. We share the common aim of bringing back the trust and confidence in Ayurveda and advancement through strong dialogue within the community. Brahm Ayurved has created an active and quality platform for discussion and knowledge exchange which will enable us to achieve our goals. Ayurveda is a rich science and has a lot of potential as a primary healthcare option for not just India but the world.”
Brahm Ayurved was founded by Ayurvedacharya Dr. Abhishek Gupta in the year 2010. It is a knowledge sharing platform, used to spread awareness and connect Ayurvedic experts with students. It is an active community of over 60,000 people who constantly engage in the discussions regarding Ayurvedic treatments.
Dr. Abhishek Gupta, Founder, Brahm Ayurved, said, “I admire the vision and approach of NirogStreet, the effective use of technology to bring Ayurveda back into light and embrace the nuances of Ayurveda is commendable. We have been partnering with NirogStreet since it started and now I am delighted to be a part of the like-minded team and move towards the common goal.”
Ayurveda has been successful in treating patients with chronic ailments, compared to its counterparts in Allopathy and Homeopathy. Now with the establishment of Ministry of AYUSH, the government of India is also focussed on bringing Ayurvedic treatments back to the foreground.
It is estimated that the market for Ayurvedic medicines is a ₹20,600 crores ($3 billion) dollar industry which is expected to grow to about ₹1,03,000 crores ($15 billion) in the next 10 years. The popular players in the Ayurvedic medicine space are the giants like Dabur, Himalaya, Patanjali, VICCO, etc.