Dr. Vaidya's - Genuine Ayurvedic Products from Experts

Dr. Vaidya's - Genuine Ayurvedic Products from Experts
Dr. Vaidya's - Genuine Ayurvedic Products from Experts

Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations.

Ayurveda means ‘Knowledge of Life. It has its roots in the '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 largely unorganized, and many self-declared doctors come up with fake medications 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.

Did you know Dr. Vaidya's packaging was designed by a jewelry designer and an architect?

StartupTalky interviewed Dr.Vaidya's founder, Mr. Arun Vaidya, who has disclosed several important facts and details about the company, its founders and team, valuation, acquisitions, and more. Find them all in this article ahead!

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
Ayurvedic Product's Market in India
Dr. Vaidya's Founders and Team
Dr Vaidya's - Startup Story | How was Dr. Vaidya's Started?
Dr. Vaidya's - Name and Logo
Dr. Vaidya's - Business Model and How it works
Dr. Vaidya's - Funding and Investors
Dr. Vaidya's - Growth
Dr. Vaidya's - Product And Service
Dr. Vaidya's - Revenue/Turnover
Dr. Vaidya's - User Acquisition
Dr. Vaidya's - Advisors and Mentors
Dr. Vaidya's - Partnership
Dr. Vaidya's - Awards and Recognitions
Dr. Vaidya's - Competitors
Dr. Vaidya's - Startup Challenges
Dr. Vaidya's - Future Plans

About Dr. Vaidya's

Dr. Vaidya’s new-age Ayurveda products have become popular because of the company's 150 years of family legacy and 5,000-year-old science for modern consumers. Since the company's expertise spans 150 years of Ayurvedic heritage, 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's 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 acquired an additional stake in Herbolab India Pvt. Ltd. for full ownership of the ayurvedic company. On March 9th, 2021, RPSG Ventures acquired the remaining 35.37% stakes in Dr. Vaidya's for INR 50.8 crore ($6.9 million). 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

Ayurvedic Product's Market in India

The ayurvedic market in India is valued at $3 billion and is expected to grow rapidly to 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 Ayurveda, schemes like the International Co-Operation Scheme for Ayurveda companies and researchers, etc. 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, CEO and Co-founder of Dr. Vaidya's
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 fields 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 for India at Verlinvest.

Trisha Rajani

Trisha Rajani - Former COO and Co-founder of Dr. Vaidya's

Trisha Rajani is a graduate of the University of Warwick. 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 51-200 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)

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Dr Vaidya's - Startup Story | How was Dr. Vaidya's Started?

Ayurveda has been a part of Arjun’s family for many generations. His grandfather, great-grandfather, and two 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 for a private equity firm and was enjoying his role as an investor. Unfortunately, his grandfather passed away three months after Arjun came back to India. He left behind thousands 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 he left his job at L Catterton when he chose to further his family's legacy.

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
Dr. Vaidya's Logo

Dr. Vaidya's logo is the company name written in green with three green leaves, symbolizing 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 Dr. Vaidya's 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.

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Dr. Vaidya's - Business Model and How it works

Currently, 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. Vaidya's products, the Dr. Vaidya website also has a provision for consumers to reach out to ayurvedic doctors via phone, video call, WhatsApp, text message, Facebook, Instagram, or email. Today, more than 1,000 customers 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 - Growth

Dr. Vaidya’s has been one of India’s largest ayurvedic product brands online and 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 an age-old liver protector that helps prevent hangovers, and repackaged 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 jewelry designer, while Rohan was then an architect by training, and this was how Dr. Vaidya's logo and packaging came into being.

Arjun Vaidya on LinkedIn: #startup #founder #memory | 42 comments
⚡Remember the Early Days⚡ Did you know a jewellery designer and an architect designed Dr. Vaidya’s packaging? This weekend Divanshu Thakral asked me... 42 comments on LinkedIn

In November 2020, Dr. Vaidya's 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.

Some of the growth highlights are:

  • It has reached 3,000+ cities.
  • The company has made 2 million+ Deliveries
  • As per the company's website, it has 1 million+ happy customers.

Dr. Vaidya's - Product And Service

Dr. Vaidya’s website offers ayurvedic products to treat illness and maintain wellness. The Dr. Vaidyas product 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, we want to change people's vision towards ayurvedic products and not perceive 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 pass on 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 they have easy-to-understand packaging, a unique brand, and unique product formats designed to make Ayurveda appealing and accessible.

Dr.Vaidya's offers three major popular categories of products:

Cold and Cough

A wide range of Ayurvedic medications for colds, coughs, seasonal allergies, and other respiratory conditions are available at Dr. Vaidya's. With a variety of natural Ayurvedic treatments for coughs and colds, these include churnas, syrups, inhalers, and more.

Immunity Booster

Providing comprehensive solutions to enhance overall well-being and vitality, Dr. Vaidya's offers a broad assortment of immunity boosters, such as the Fitness Pack, MyPrash for everyday health, and Ashwagandha tablets.

Pain Relief

Dr. Vaidya's offers a variety of natural painkillers that can help with muscle and body pain from overexercising and injuries, as well as joint pain from aging and arthritic disorders. Dr. Vaidya uses only the best herbs in her Ayurvedic pain management formulas, which are safe and effective and free of synthetic or artificial additives.

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 - Advisors and Mentors

Biren Vaidya is the chairman of the advisory board. Other than him, Dr. Vaidya’s also got 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 - Partnership

Dr. Vaidya's has partnered with many companies, including:

Some of the partnerships are listed below:

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 - Competitors

The main competitors of Dr. Vaidyas 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. Himalayan 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 - Startup Challenges

Building an FMCG business online was a challenge, as Arjun said. Also, understanding the customer's needs and providing products in line with those 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 - 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.

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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 (the goodness of Chyawanprash in a toffee), LIVitup (the Ayurvedic hangover shield), Sung Ho (the Ayurvedic inhalant), etc. that genuinely understand and simplify the needs of modern consumers.

Who is Arjun Vaidya?

Arjun Vaidya 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 Vaidya's 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, which acquired all of the stakes in the company on March 9, 2021.

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