Singapore-based venture capital firm Jungle Ventures is reportedly in discussions to invest in two of its existing portfolio companies, The Ayurveda Experience (TAE) and Walko Food Company Pvt. Ltd, according to sources familiar with the matter.
Walko Food, based in Pune, owns the rapidly growing natural ice cream brand NIC. With a manufacturing facility in Pune and retail presence in over 30 Indian cities through various channels including food delivery platforms and modern trade outlets, NIC has been gaining traction. Last year, Jungle Ventures led an $11 million investment round in Walko Food, aimed at ramping up production, expanding product offerings, and widening distribution to reach a broader audience.
Meanwhile, TAE, headquartered in Delhi, operates as a beauty and wellness platform catering to customers in countries like India, US, Canada, Australia, and France. Offering a range of products spanning skincare, body care, and food & beverages, TAE has garnered attention from investors like Fireside Ventures.
Arpit Beri, a partner at Jungle Ventures, highlighted the growing demand for natural and healthy lifestyle choices, which TAE addresses effectively. He mentioned the firm's commitment to Ayurveda-focused investments, citing TAE and an Ayurveda tech startup NirogStreet as examples.
Beri noted Jungle Ventures' heightened interest in the Indian market, with a notable surge in investment activity in the past year. The firm made nine investments in 2023, a significant increase from the four deals in 2022. Beri expressed optimism about further investment opportunities in India, particularly in the consumer sector, emphasizing the sector's significant potential for profitability given its substantial contribution to the GDP.
Reflecting on evolving investor perspectives, Beri emphasized the importance of balancing growth with profitability. As investors, Jungle Ventures seeks ventures with the potential for sustainable growth and profitability in the long run. With ongoing discussions for twin investments in TAE and Walko Food, Jungle Ventures underscores its commitment to supporting innovative consumer brands in India's dynamic market landscape.