Indian technology start-up NirogStreet has raised $4 million in its latest funding round led by CE-Ventures, the venture capital arm of Sharjah-based conglomerate Crescent Enterprises, and Japan’s investment firm ICMG Partners.
The company will use the new funds to expand its operations in the Middle East and North Africa region and to “innovate service and product offerings for Ayurvedic doctors and to scale up and strengthen operations”, NirogStreet said in a statement.
Founded in 2016, the New Delhi-based start-up is one of the world’s fastest growing technology-led Ayurvedic platforms. According to the company, it offers access to more than 50,000 Ayurvedic doctors on its peer-to-peer learning channel, electronic health record and business-to-business e-commerce platform.
Ram N Kumar, founder and chief executive of NirogStreet, said more people are turning to Ayurveda for preventive health care.
“We are confident that our continuous efforts in mainstreaming Ayurveda have started conversations, rebuilt perceptions and offered reassurance that this most effective and ancient medicine is a gift from India to the world.
“We are preparing ourselves to become the world’s fastest-growing healthcare company … with visionary investors on board, we are rapidly moving towards our goal of transforming the global healthcare landscape.”
Ayurveda is an ancient Indian system of medicine that comprises spices, natural herbs and plant-based medicines.
The system's market size is projected to reach $21.1 billion by 2028, growing at a compound annual growth rate of more than 15.6 per cent from $6.5bn in 2020, reported business intelligence firm Verified Market Research.
With the new funding, NirogStreet is aiming to boost its presence and bridge the gap between Ayurvedic doctors, patients and quality medicines, the company said.
It “eyes expansion into the Mena region leveraging the region’s fast growth that is driven by a high level of digital connectivity and a large and young tech-savvy population”, it added.
CE-Ventures is looking to form a fruitful partnership that will champion the growth of NirogStreet both within India and outward into the Mena region, said deputy chief executive and head of investments at Crescent Enterprises Tushar Singhvi.
“We are excited to embark on this journey with NirogStreet. The company has demonstrated the immense value and opportunity within the Ayurvedic market, which is projected to reach $9.5bn by 2024, as well as the limitless possibilities that tech-enabled solutions can offer,” Mr Singhvi said.
The venture capital firm has invested Dh580m ($158m) across 43 start-ups and venture capital funds globally. Last year, it announced its plans to increase its investments in start-ups to Dh1bn ($272m) by 2022.
Some of its portfolio companies include Kitopi, the world’s leading managed cloud kitchen; FreshtoHome, India’s largest seafood and meat e-commerce delivery platform; and Tarabut Gateway, Mena’s largest open banking platform.
Zayed Sustainability Prize
Company%20profile
%3Cp%3EName%3A%20Tabby%3Cbr%3EFounded%3A%20August%202019%3B%20platform%20went%20live%20in%20February%202020%3Cbr%3EFounder%2FCEO%3A%20Hosam%20Arab%2C%20co-founder%3A%20Daniil%20Barkalov%3Cbr%3EBased%3A%20Dubai%2C%20UAE%3Cbr%3ESector%3A%20Payments%3Cbr%3ESize%3A%2040-50%20employees%3Cbr%3EStage%3A%20Series%20A%3Cbr%3EInvestors%3A%20Arbor%20Ventures%2C%20Mubadala%20Capital%2C%20Wamda%20Capital%2C%20STV%2C%20Raed%20Ventures%2C%20Global%20Founders%20Capital%2C%20JIMCO%2C%20Global%20Ventures%2C%20Venture%20Souq%2C%20Outliers%20VC%2C%20MSA%20Capital%2C%20HOF%20and%20AB%20Accelerator.%3Cbr%3E%3C%2Fp%3E%0A
MIDWAY
Produced: Lionsgate Films, Shanghai Ryui Entertainment, Street Light Entertainment
Directed: Roland Emmerich
Cast: Ed Skrein, Woody Harrelson, Dennis Quaid, Aaron Eckhart, Luke Evans, Nick Jonas, Mandy Moore, Darren Criss
Rating: 3.5/5 stars
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Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
Juliot Vinolia’s checklist for adopting alternate-day fasting
- Don’t do it more than once in three days
- Don’t go under 700 calories on fasting days
- Ensure there is sufficient water intake, as the body can go in dehydration mode
- Ensure there is enough roughage (fibre) in the food on fasting days as well
- Do not binge on processed or fatty foods on non-fasting days
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- Manage your sleep
- People with existing gastric or mental health issues should avoid fasting
- Do not fast for prolonged periods without supervision by a qualified expert
FIXTURES
Thu Mar 15 – West Indies v Afghanistan, UAE v Scotland
Fri Mar 16 – Ireland v Zimbabwe
Sun Mar 18 – Ireland v Scotland
Mon Mar 19 – West Indies v Zimbabwe
Tue Mar 20 – UAE v Afghanistan
Wed Mar 21 – West Indies v Scotland
Thu Mar 22 – UAE v Zimbabwe
Fri Mar 23 – Ireland v Afghanistan
The top two teams qualify for the World Cup
Classification matches
The top-placed side out of Papua New Guinea, Hong Kong or Nepal will be granted one-day international status. UAE and Scotland have already won ODI status, having qualified for the Super Six.
Thu Mar 15 – Netherlands v Hong Kong, PNG v Nepal
Sat Mar 17 – 7th-8th place playoff, 9th-10th place playoff
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Killing of Qassem Suleimani
BULKWHIZ PROFILE
Date started: February 2017
Founders: Amira Rashad (CEO), Yusuf Saber (CTO), Mahmoud Sayedahmed (adviser), Reda Bouraoui (adviser)
Based: Dubai, UAE
Sector: E-commerce
Size: 50 employees
Funding: approximately $6m
Investors: Beco Capital, Enabling Future and Wain in the UAE; China's MSA Capital; 500 Startups; Faith Capital and Savour Ventures in Kuwait
