Hardeep Singh
Ayurveda, a traditional health and wellness philosophy, gained popularity throughout the epidemic, with more people using Ayurvedic products into their daily lives. In June of this year, Auric raised $2 million in a Pre-Series A round headed by Venture Catalysts, Cactus Venture Partners, and 9Unicorns, with participation from Karthik Bhat via AngelList and Capital-A. (Manjushree Ventures). This funding will be used to fund the startup’s expansion objectives, which include raising the number of SKUs from 13 to 50 over the next 18 months. These could include hot and cold beverages, as well as environmentally friendly items.
As Ayurveda gains popularity around the world, Auric intends to increase its footprint in countries such as the United States and the United Kingdom.
According to Deepak Agarwal, founder of The Auric, an Ayurveda-focused health and wellness organisation, before the coronavirus, wellbeing was silver and beauty was gold. However, in the perspective of the consumer, both categories are now deemed gold.
Auric brings you nature’s goodness in its finest form, 100 percent natural, fresh, and pure. The company takes pleasure in procuring high-quality herbs with proven benefits. This ready-to-drink beverage combines the health benefits of Premium Herbs with the delicious taste of coconut water. Simply take it with you and consume it whenever and wherever you choose. Auric’s juices, unlike other beverages, are completely natural and include no preservatives or other additives. Detoxing, repairing, and revitalising your Mind, Body, and Skin has never been easier. Thanks to the goodness of coconut water and high grade herbs, this health drink tastes delicious and refreshing. At least one bottle should be consumed every day, as per the company’s claim.
Deepak is a graduate of IIT Delhi with over eight years of experience at Unilever. When an injured back led him to yoga and wellness, he realised there are various gaps that impede Ayurveda from “reaching its potential” in the millennial lifestyle. Auric was born as a result of this. The founder spent the first several months of the company’s life developing the product, brand, and team before releasing it at the end of 2018. The direct-to-consumer company, which began with beverages, is now branching out into other products such as ashwagandha-infused hot chocolate and turmeric-infused coffee.
Auric, which began operations at the end of 2018, reported a significant increase in business during COVID-19. Monthly sales climbed from 50,000 to three lakh bottles as the number of SKUs increased from five to thirteen. While consumer interest in Ayurveda has increased in recent years, Deepak attributes Auric’s success to the company’s unique positioning and selling method, which includes a pack of 24 rather than the standard 12 and 24.
Deepak placed Auric in the mass-premium market, between between Forest Essentials’ values and Patanjali’s accessibility.
The company does not sell traditional Ayurvedic products like amla juice, aloe vera juice, or shilajit. By delivering ready-to-eat combos, they changed the consumption format to appeal to younger customers. Combine amla juice, aloe vera juice, honey, and gotu kola with coconut water to make a radiant skin beverage.
The company has listed juices and health drinks under three categories and that is
- MEN’S ENERGY: To increase their stamina, men should consume an energy drink every day. For an active lifestyle, this is your go-to beverage. The flavours of pomegranate and coconut water which apparently the company retails in, for this particular segment.
- MIND REJUVENATION: One should consume Ayurvedic Juice Every Day. It is suitable for consumption at any time of day. This is your go-to beverage for an active lifestyle. As is assist you in improving your concentration at work on a daily basis. Everyday use that is nourishing, enjoyable, and energising.
- WOMEN WELLNESS: Women’s wellness drink to assist keep their bodies in shape. Multivitamins Have Health Benefits Use on a daily basis to maintain your skin clean and clear. Premium herbs, delicate coconut water, and peach in a juice that’s ready to sip. According to the company, it is healthy, tasty, and energising.
Auric is an ayurvedic health beverage company. Deepak, on the other hand, emphasises that it is a platform for reaching out to millennials who want ready-to-drink healthful beverages rather than a beverage brand. Its products not only give all of the benefits of a supplement, but they are also readily available in grocery stores and may be substituted for other beverages.
Deepak believes that as a result of the coronavirus pandemic, people are becoming more aware of the benefits of Ayurveda. He claims that the brand’s revenue has increased fivefold in the last 18 months. Aside from ayurveda beverages, the company has created a few ancillary goods, such as copper bottles, bowls, and spoons made of coconut fibre, to identify its brand with holistic wellbeing rather than just ayurvedic drinks. The Indian Ayurveda market was worth Rs 300 billion in 2018, according to Research and Markets, and is expected to develop at a compound annual growth rate (CAGR) of 16.06 percent by 2024.
Furthermore, a growing number of businesses are entering the industry. In 2014, the Indian government established the AYUSH (Ayurveda, Yoga, Naturopathy, Unani, Siddha, Sowa-Rigpa, and Homoeopathy) Ministry to promote Ayurveda and traditional medicines.
In the wellness and nutraceuticals industry, Auric competes with hundreds of other businesses. Among the major players are Himalaya, Baidyanath, Hamdard, Dabur, Cureveda, Organic India, and others.
Auric has the confidence to continue forward, according to Deepak, because of its expertise in selling liquids online, which is a difficult category to define. Despite his rapid advancement, Auric confesses that drinks have always been an ‘impulse’ category for him. Without competition, the entrepreneur argues, each business will be able to carve out its own niche, and that more rivalry will lead to more customer education.
