Botanic Healthcare Secures Maiden PE Funding

Botanic Healthcare Pvt. Ltd, a manufacturer of botanical extracts, has raised  Rs 250 crore first private equity funding from mid-market PE firm Stakeboat Capital and Abakkus Asset Manager Pvt. Ltd. 

Veda Corporate Advisors was the company's and its promoters' exclusive financial advisor.The deal values the company at around Rs 1,000 crore ($120 million).

Abakkus, a Mumbai-based asset management firm led by Sunil Singhania, invested through its Four2Eight Opportunities Fund, a PE-style investment vehicle.

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The company said in a statement that the funds will be used to strengthen their group entities and expand the business globally. The funding will also open doors to new business opportunities, collaborations, and strategies to enter new markets.

About Botanic Healthcare

Hyderabad-based Botanic Healthcare was founded in 2013 by Madhu Krishnamani and Gaurav Soni, it produces fruit powder extracts, natural colors, phytochemical extracts, standardized herbal extracts, natural spice extracts, and oleoresin extracts. It serves the nutraceutical, food and beverage, and cosmeceutical industries.

In addition to India, the company operates in Australia, the US, New Zealand, South Korea, and the European Union.

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The company's revenue grew significantly in the first year of the pandemic, after remaining steady in the Rs 50-60 crore range for three years. Although it slightly dropped in FY22, it nearly doubled to Rs 211.1 crore in the year ending March 31, 2023, from Rs 109.9 crore the previous year.

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