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Ayurveda means ‘Knowledge of Life. It has its roots in ‘Vedas’ the holy texts that originated in ancient India. The Ayurvedic system of medicine has for ages helped people live healthy lives. In today’s world, though medical science has evolved a lot, Ayurveda is still popular not only in India but also in other parts of the world.
However, looking at the other side of the coin, many fraudulent practices are going on in the name of Ayurveda. Ayurvedic medicine is still being largely unorganized, many self-declared doctors come up with fake medication in the name of Ayurveda. So, it is important to buy only genuine ayurvedic products to reap the full benefit.
To meet the growing demand for genuine ayurvedic medicines, Dr. Vaidya's, a Mumbai based startup was formed in 2016. Dr. Vaidya's company is backed by over 150 years of expertise and experience in the field of Ayurveda and ensures that you get only the best of ayurvedic products. Dr. Vaidya's was acquired by RP Sanjiv Goenka Group on March 9, 2021.
Dr. Vaidya - Company Highlights
- Startup Name-Dr. Vaidya's
- Headquarters-Mumbai
- Founders-Arjun Vaidya and Trisha Rajani
- Sector-Ayurvedic Products/Consumer Packaged Goods
- Founded-2016
- Parent Organization-Herbolab India Pvt. Ltd.
About Dr. Vaidya's
Dr. Vaidya’s new age Ayurveda products have become popular, this is because of the company's 150 years of family legacy and a 5,000-year-old science to modern consumers. Since the company's expertise spans 150 years of Ayurvedic heritage, the formulations and knowledge have been passed down from generation to generation through the dedicated practice of treating thousands of patients and by perfecting unique blends through careful expertise.
Dr. Vaidya's company uses new-age packaging, branding, product formats and communication, the brand aims to re-establish a connection between Ayurveda and modern consumers.
The brand owns more than 100 FDA approved proprietary formulations and has launched a very unique and innovative products list which includes Chakaash (Goodness of Chyawanprash in a Toffee), LIVitup (Ayurvedic Hangover Shield), etc. Over the year Dr. Vaidya's product reviews proved the power of Ayurveda. If you want to buy the company products you can simply search for "Dr Vaidyas near me" you will find many options.
The company was acquired by RPSG Ventures. The acquisition happened in March 2021, when the company brought an additional stake in Herbolab India Pvt Ltd for the full ownership of the ayurvedic company. On the March 9th, 2021 dated acquisition, Mumbai-listed RPSG Ventures acquired the remaining 35.37% stakes in Dr. Vaidya's for INR 50.8 crore ($6.9 mn). The same company earlier purchased over 64.34% stakes in Herbolab, the parent company of Dr. Vaidyas. With this acquisition, the valuation of the company rose from Rs 50 crore in 2019 to Rs 144 crore at present.
Arjun Vaidya
Dr. Vaidya's Products
Dr. Vaidya’s website offers ayurvedic products to treat illness and maintain wellness. The Dr Vaidyas products list includes one-of-a-kind products like Dr Vaidyas Herbopile, Chakaash – Goodness of Chyawanprash in a toffee, LIVitup – Ayurvedic Hangover Shield, Sung Ho – Ayurvedic inhalant, Dr Vaidyas weight gain pack, etc. that truly understand and simplify the needs of modern consumers.
At Dr. Vaidya’s Ayurveda products, want to change people's vision towards ayurvedic products and not perceived them as boring, old school and poorly packaged. These products do not have much of a connection with modern consumers. Thus, their aim is to take 150 years of family legacy and 5,000 years of science to 21st-century consumers.
The Dr Vaidyas review says that their products are extremely effective as it has easy to understand packaging, brand, and unique product formats designed to make Ayurveda appealing and accessible.
Ayurvedic Product's Market in India
The ayurvedic market in India is valued at $3 Billion and is expected to grow rapidly at 16% P.A. according to a CII study in 2016. More than $500 million in ayurvedic products are sold outside India according to a Statistics MRC study and this too is expected to grow at 16.2% P.A.
These numbers have seen a huge jump in the last five years owing to a consumer shift towards natural alternatives as well as government focus and support i.e. creation of the Ministry of AYUSH, schemes like the International Co-Operation Scheme for Ayurveda companies and researchers, etc. While Dr. Vaidya's Ayurveda products have played a main role in medicine alive in the country and around the world.
Ayurveda has undergone a “renaissance”. Having said this, there is tremendous further scope for the expansion of Ayurveda. The science can become a globally accepted form of alternative medicine and also serve as one more of India’s way to take our culture to the world.
Dr. Vaidya's Founders and Team
The founders of Dr. Vaidya are Arjun Vaidya and his wife Trisha Rajani Vaidya who started the company in 2016.
Arjun Vaidya
Arjun Vaidya, Former CEO and Co-founder of Dr. Vaidya's
Arjun Vaidya (the former owner and CEO of Dr. Vaidya's) graduated from Brown University in 2013. Arjun has vast experience in the field of marketing, business development, and investment management. The 6th generation Vaidya and Dr. Vaidya's former CEO had previously worked with companies like Condé Nast India, Hublot Genève, The De Beers Group of Companies, and L Capital Asia, prior to starting the ayurvedic company. The former Vaidya's company chief is currently working as the Ventures Lead of India at Verlinvest.
Trisha Rajani
Trisha Rajani is a graduate of the University of Warwick. This Dr. Vaidya's founder and Ex-COO had earlier worked with companies like ASA Philippines, Goldman Sachs, Nykaa.com, Intellecap, and RepIndia before joining Dr. Vaidya’s. Rajani, after Dr Vaidya's was acquired, became the Advisor of GlobalBees, and is presently working at GobalBees and as an Advisor at Rukam Capital Mentor. Besides, she is also a mentor and angel investor in various startups.
The story is very interesting because the ‘co-founder’ and current COO of this business is my wife, Trisha. One year into running the business, I realized that my head was in too many places and I wasn’t able to give any department or aspect of the business 100%. I needed help and I had no shame in going out and asking for it. We needed someone who would have as much commitment to the cause as I did and thus, family made sense. Against much advice from friends and family, the moment we got engaged, Trisha joined the business. And, I must say the journey has been amazing. There is a clear allocation of responsibility and so far it has added huge value to the business.
Currently, Dr. Vaidya's had 40+ members in its team. This included the factory team in Silvassa and Dr. Vaidya’s head office team is based in Mumbai, Maharashtra.
Our company culture is all about ‘getting things done’ and adding the most value to our customers. Even at 10 PM, there is no shame in the CEO of the company answering the phone and talking to a customer. The team itself is a great blend of experience (with team members from my grandfather’s time) as well as youthful exuberance, added Arjun Vaidya (Dr Vaidya owner and CEO)
Ayurveda has been a part of Arjun’s family for many generations. His grandfather, great grandfather, and 2 generations before that were ayurvedic doctors. Arjun grew up with Ayurveda all his life.
“My grandfather even cured me of chronic asthma. By the late 80s, my grandfather had become Mumbai’s most successful ayurvedic doctor – seeing 300+ patients a day and getting 12,000+ patients writing to him via post on a monthly basis. He was a legend in the industry but never cared for sales, distribution marketing or strategy. Thus, he sold his products only through his clinic and never outside” recalls Arjun Vaidya Dr. Vaidya owner.
Arjun was pursuing his studies and career in the USA. It was around 2013 when Arjun returned to India. Arjun eventually started working in a private equity firm and was enjoying the role as an Investor. Unfortunately, his grandfather passed away 3 months after Arjun came back to India. He left behind 1000s of loyal patients and some very effective formulations.
Due to the loyal patients they had, Arjun’s family kept running his grandfather’s clinic as a dispensary. The intention behind starting Dr. Vaidya’s was also to save many successful ayurvedic formulations that his grandfather made and that's when the Dr. Vaidya story started.
“The moment is still vivid in my mind. It was my father’s 50th birthday and his team had a large celebration for him at the office. I gave a speech talking about his role in inspiring me. After the speech, my grandfather’s nurse of 25 years came up to me and said that while my father has done some great work, it was a shame we were letting my grandfather’s legacy die. This was the ‘aha’ moment for me – when everything changed”.
Dr Vaidya's business was taken up by Arjun Vaidya in the middle of 2016, after leaving his job at L Catterton, when he chose to further his family's legacy.
Dr. Vaidya's - Name and Logo
Dr. Vaidya’s company name was taken after Arjun’s grandfather's name.
“My grandfather is my inspiration. He was also a legendary doctor. Thus, the name was easy – it had to be named after him”
Dr. Vaidya's logo is the company name written in Green Colour with three green leaves symbolizing the ayurvedic medicine. The Dr. Vaidyas tagline is "new age ayurveda" and stands for what the company offers.
Another interesting story is the name for one of the Dr. Vaidyas products ‘LIVitup’ a hangover product. The team was doing a brainstorming session and came up with this name which was instantly loved. But the team soon realized that the trademark was already taken. Thus, the team tried to come up with another name but, nothing worked like this one. Eventually, even before starting the company, Dr. Vaidya’s went ahead and bought this trademark from its owner.
Dr. Vaidya's - Business Model and How it works
Currently, the Dr. Vaidya's business model is online-focused. The company has its factory in Silvassa, and sells its products through its own site and also other well-known e-commerce sites.
We realized that with limited resources, we had to be the best at what we do. Thus, contrary to popular belief we went the digital first way instead of focusing on offline. We also needed to add genuine value to the customers and so, took what my great grandfather had instituted to the 21st century.
Dr. Vaidya’s business model is guided by the belief that no patient should be charged for a consultation i.e. to speak to an Ayurvedic doctor. Besides Dr Vaidyas products, the Dr. Vaidya website also has a provision for consumers to reach out to ayurvedic doctors via call, video call, Whatsapp, text message, Facebook, Instagram or email. Today more than 1,000 customers a day reach out to Doctor Vaidya’s for knowledge, issues and feedback on Ayurveda.
Dr. Vaidya's - Funding and Investors
Dr Vaidya's funding history is not long as Arjun Vaidya started the company with bootstrapped capital. In June 2019, Dr. Vaidya' s partnered with RP Sanjiv Goenka Group and raised a round of $5 million, which eventually owned a majority stake in the company.
Dr. Vaidya's - Revenue/Turnover
Dr. Vaidya's turnover in 2018-19 was INR 1.94 Crore, while Dr. Vaidya's revenue was estimated to be INR 13.6 Crore the same year.
Dr. Vaidya's - User Acquisition
Backed by the legacy of 100 years, Dr. Vaidya’s acquired a large base of loyal customers even before the company was started. The patients who were being treated by Arjun’s grandfather came to be the initial customers for Dr. Vaidya’s products.
“I actually sent out a letter (not email) to each of his old patients talking about how we are reinvigorating his legacy and continuing his good work. The response was phenomenal (also a testament to my grandfather’s goodwill) and served as the launching pad for our business” Said Arjun, Co-Founder of Dr. Vaidya's.
Dr. Vaidya's - Startup Challenges
Building an FMCG business online was a challenge as said by Arjun. Also, understanding the customer's needs and providing products in line with the needs is a challenge that Dr. Vaidya's team has to face.
Spending time to understand our customer’s needs and what the market was lacking was critical. Vernacular content, ease of explanation, seamless experience of consumption, etc. all helped us to grow. Having said that, I cannot say that there was a moment of virality which caused hockey stick growth. For us, it was months of effort and thousands of customer interactions that have got us to where we are.
Dr. Vaidya's - Competitors
The main Dr. Vaidyas competitors are Himalaya, but Arjun says that he is inspired by the achievements made by ‘Himalaya’.
Speaking about competition Arjun said, “We see competition as inspiration. For me, I am inspired daily by the work Himalaya does. This brand has built huge consumer loyalty and trust over the last 20 years. Himalaya products are now available in 80+ countries – which is a huge achievement. At Dr. Vaidya’s, each one of our products bears the mark ‘Proudly Indian’ and one day (in the near future) we hope to see this on shelves and in hands across the globe”
Dr. Vaidya's - Advisors and Mentors
Biren Vaidya is the chairman of the advisory board. Other than him, Dr. Vaidya’s also has a bunch of advisors from different fields.
Grey hair and experience to me are critical since I am a 27-year-old founder who hasn’t seen as much of the world as experienced folks may have.
Dr. Vaidya's - Awards & Recognitions
Dr. Vaidya’s awards and recognitions include:
- Forbes 30 Under 30 Asia – 2019
- Member, CII Core Committee on Ayurveda
- Top 50 Most Impactful Leaders in Healthcare, 2018
Dr. Vaidya's - Growth
Dr. Vaidya’s has been one of India’s Largest Ayurvedic Products brands online that has taken pride in completing more than 750 orders a day across its own website as well as e-marketplaces like Amazon, Nykaa, Seniority, Snapdeal, Netmeds, 1mg, Medlife, etc.
The former founder of the company Arjun Vaidya recalled the idea of LIVitup, which is the age-old liver protector that helps in preventing hangover and repackaging it. Vaidya then started sampling the product at every party he went to. At one of such parties, he met Rohan Rathod, his school friend, who was an architect by training and recommended the product to him. As intrigued as he was, Rohan promptly asked Vaidya about the packaging and who was doing that?
This made Arjun reveal to his father, Biren Vaidya how interested Rohan was in doing the packaging of the products. With this, Arjun's father was really enthusiastic and instantly suggested that he and Rohan must sit together and do the packaging of the Vaidya's products. Arjun's father is a jewellery designer while Rohan was then an architect by training, and this was how Dr. Vaidya's logo and packaging came into being.
In November 2020, Dr Vaidya’s had forayed into the international market with the launch of 11 products in the immunity, hangover, digestion, and sexual wellness categories in the US via Amazon.com.
Dr. Vaidya's - Future Plans
The brand earlier looked forward to creating a selective offline presence and venturing into export markets. Dr. Vaidya’s Ayurveda products bear the mark ‘Proudly Indian’ and it was the dream of Arjun Vaidya to let this mark make its presence in 50 countries around the world. All of these might still be achieved by the company but under the ownership of RP-Sanjiv Goenka Group because with its acquisition by the group, the Vaidya family has exited the company by selling their stakes in full.
FAQs
Who is the owner of Dr. Vaidya's company?
The Co-founders of Dr Vaidya's were Arjun Vaidya and his wife Trisha Rajani, who eventually exited the company after the acquisition.
Which company acquired Dr Vaidya's?
Dr Vaidya's acquisition was led by RP-Sanjiv Goenka Group after it bought a majority stake in the ayurvedic company.
What are some of Dr Vaidya’s products?
Dr. Vaidya’s offers ayurvedic products to treat illness and maintain wellness. The company has launched one-of-a-kind products like Chakaash – Goodness of Chyawanprash in a toffee, LIVitup – Ayurvedic Hangover Shield, Sung Ho – Ayurvedic inhalant, etc. that genuinely understand and simplify the needs of modern consumers.
Who is Arjun Vaidya?
Arjun Vadya was Dr. Vaidya's owner and co-founder and the sixth-generation Vaidya who has inherited the family's 100 India FDA-approved medical formulations and 50 trademarks, accumulated over 150 years.
Who is Arjun Vaidyas wife?
Arjun Vaidyas wife is Trisha Rajani Vaidya, who was the former co-founder and COO of Dr. Vaidyas.
Is Dr Vaidya's sold?
Dr. Vaidya's now stands sold to RP-Sanjiv Goenka Group, who acquired all of the stakes in the company on March 9, 2021.
