D2C personal care brand The Ayurveda Co. (TAC) is shutting down operations and preparing to clear its inventory, as per a social media post shared by the company’s Founder and CEO, Shreedha Singh.
“We are wrapping up TAC. 5th June is TAC’s 4th & last birthday,” shared Singh, asking users to visit its website to shop D2C products one last time.
Backed by Sixth Sense Ventures, TAC saw its losses triple to Rs 68 crore in FY24. Despite a 65% increase in revenue to Rs 59.6 crore, the company’s bottom line was impacted by a sharp rise in expenses, which nearly doubled to Rs 109.5 crore in FY24 from Rs 55.6 crore in FY23.
The Shark Tank fame company had last raised $12.2 million in its series A round led by Sixth Sense Ventures, along with participation from actress Kajal Agarwal.
The funding came at a time where T.A.C had forayed into global markets like MEA and Dubai.
The Ayurvedic Company or T.A.C was founded by Param Bhargava and Shreedha Singh in 2021. The duo had previously launched Khadi Essentials in 2019.
Edited by Megha Reddy
