India Digest: Brookfield mulls $1b investment in Avaada; The Ayurveda Co. raises $12m

India Digest: Brookfield mulls $1b investment in Avaada; The Ayurveda Co. raises $12m

Photo by Katherine Hanlon on Unsplash

Brookfield Asset Management is reportedly in talks for a $1-billion investment in an Indian renewable energy company in Avaada Group. Separately, The Ayurveda Co. (T.A.C) has raised about $12.2 million in its Series A round.

Brookfield in talks to invest in Avaada

Brookfield Asset Management is in talks to invest $1 billion in multiple tranches in Avaada Ventures Pvt Ltd (AVPL), the parent entity of Avaada Group, according to a report in The Economic Times.

The first tranche worth $400-500 million is expected to be announced in the coming weeks, the report said. The new capital will be used to fund Avaada’s Group’s solar cell/module manufacturing and green ammonia projects, and clean energy generation capacity.

Founded in 2009, Avaada Group plans to generate 30 GW of installed renewable energy capacity, with a $20 billion asset base by 2030. Thailand-based PTT Group is an equity partner in the company with a 41.6% stake.

Sixth Sense backs The Ayurveda Co

The Ayurveda Co. (T.A.C), a direct-to-consumer (D2C) beauty and wellness brand, Monday announced that it has raised about $12.2 million (Rs100 crores) in its Series A funding round from Sixth Sense Ventures.

The round also saw participation from actress Kajal Agarwal, a few notable start-up founders and venture debt funds, the startup said in a statement.

The company will use the funds to expand its offline presence, improve product manufacturing and R&D, and accelerate digital awareness around Ayurveda and T.A.C in the ecosystem, the statement added.

T.A.C claims to have grown over 300% in the past 10 months driven by a portfolio of 100 SKUs with an omnichannel distributor network. T.A.C recently launched in Dubai, marking its international foray.



Edited by: Padma Priya

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