LifeChart Ayurveda: India’s First Digital Alternate Healthcare Platform
📄Company Profiles
The healthcare industry is one of the most prominent industries in the world. It is the industry that keeps coming up with new innovations and technologies to help people improve their lives and increase their lifespan.
However, in many cases, new scientific technologies and innovations are put to the test, and an important Indian medicine system like Ayurveda proves to be more useful. Here, a great example of a healthtech platform is LifeChart which bridges the gap between Ayurveda, science, and technology and helps provide authentic alternative wellness solutions.
In this article, learn more about LifeChart Ayurveda, its founder, its business and revenue model, its future plans, and more.
LifeChart Ayurveda - Company Highlights
| Startup Name | LifeChart Ayurveda |
|---|---|
| Headquarters | Gurugram, Haryana, India |
| Sector | Health & Wellness |
| Type | Private |
| Founder | Mukul Shah |
| Founded | 2021 |
| Website | lifechartayurveda.in |
LifeChart Ayurveda - About
LifeChart Ayurveda - Industry Details
LifeChart Ayurveda - Founders and Team
LifeChart Ayurveda - Startup Story
LifeChart Ayurveda - Mission and Vision
LifeChart Ayurveda - Name, Tagline and Logo
LifeChart Ayurveda - Product/Services
LifeChart Ayurveda - Business and Revenue Model
LifeChart Ayurveda - Customer Growth and Retention Strategies
LifeChart Ayurveda - Challenges Faced
LifeChart Ayurveda - Growth
LifeChart Ayurveda - Funding
LifeChart Ayurveda - Key Tools and Software
LifeChart Ayurveda - Awards and Achievements
LifeChart Ayurveda - Competitors
LifeChart Ayurveda - Future Plans
LifeChart Ayurveda - About
Established in 2021, Lifechart Ayurveda proudly holds the distinction of being India's sole alternative healthcare company exclusively specializing in digital end-to-end gut solutions grounded in the principles of Ayurveda. Their commitment is unwavering – to redefine health and well-being by adopting a holistic approach to gut health. What sets them apart is its unique fusion of cutting-edge technology with the proven efficacy of ancient Ayurvedic wisdom, heralding a revolutionary change in the health and well-being of millions of Indians at affordable costs.
At the core of their mission is the belief that Ayurvedic solutions should be accessible to all. Lifechart is dedicated to making the transformative benefits of Ayurveda available to a diverse audience, ensuring that its platform remains a beacon of affordability in the realm of alternative healthcare.
A key distinguishing factor for Lifechart is its introduction of an AI-based diagnosis platform, working in tandem with expert solutions from certified Ayurvedic doctors. This innovative synergy isn't just transforming the health
landscape in India; it's making a significant impact on alternate healthcare ecosystems across the globe. Lifechart is pioneering a transformative journey, where the marriage of technology and ancient healing traditions is creating tangible, positive changes in the lives of individuals seeking comprehensive and effective gut solutions.
LifeChart Ayurveda - Industry Details
The Ayurveda market is substantial, valued at $6.5 billion in 2020 and projected to reach over $20 billion globally with a CAGR of 15.63%. Lifechart targets a significant portion of this market, particularly in India, where a vast majority of the population uses Ayurveda products. Their startup has captured a growing share of this market by addressing the unmet need for effective and affordable gut care solutions.
Lifechart’s vision is to create the world’s largest community of Alternate healthcare professionals & paitents compare them to the next EU YAN SANG or Herbalife from India, where at present they will specialize over Gut health as a category & shall be launching nearly 50-60 new products under the same, their AI has predicted Gut health as a new growing demand for Bharat & world & they want to become a specialist curative brand rather many other generalist competitors. They are also coming up with a few unique distribution strategies for their TG which is middle class tier 2 & tier 3 Bharat, which would enable door step diagnosis testing, doctor consulting & products distribution at much more affordable rates to bridge the gap between cream Ayurveda & genuine users.
Arbaz Sayed
LifeChart Ayurveda - Founders and Team
Their team consists of 30 dedicated professionals, including the co-founders:
Mukul (CEO): Responsible for growth, finance, investments, marketing.
K Sandeep (CTO): In charge of developing a scalable tech stack powered by AI and ML engines.
Mansi Sharma (COO): Oversees operations, customer experience, new product development, and compliance.
LifeChart Ayurveda - Startup Story
For the last 30 years, Mukul Shah’s mother has been suffering from Type II diabetes. The usage of general medicines for many years affected her kidneys, resulting in poor digestion, and other problems. This led Mukul to look out for alternative solutions, and most of his research was pointing towards Ayurveda
treatment, he says. “When Mukul started looking for Ayurveda doctors, there was no way to find qualified Ayurveda doctors, but luckily a friend of mine recommended an Ashram, which was located 250 kms away from Delhi. But there was no proper booking management system and it was not digitised,” says Mukul.
However, Mukul managed to take his mother to the Ashram for consultation. After going through the programme for six months, he noticed a drastic change in his mother’s health, and her dependency on modern medications was reduced to 20%. “That is when Mukul decided to create an alternate healthcare ecosystem for India and the world, and that is how Lifechart was born,” states Mukul. In order to test its prototype, they made a MVP App with a single solution to connect patients to BAMS Ayurveda doctors, the App got listed on playstore & within 2 -3 months they had nearly 49k downloads with 4.5 star rating, they were doing like 2000- 3000 consultations a month, this was enough for them to validate the prevalent gap in the market.
Recognizing the pervasive impact of lifestyle issues on the gut health of nearly 7 out of 10 Indians, the imperative to establish a tech-driven Ayurvedic gut specialist brand was undeniable. This realization served as the cornerstone for the inception of Lifechart Ayurveda, positioning itself as India's pioneer and exclusive gut-
specialist platform. Here, customers gain access to a comprehensive suite of offerings, including tech-based diagnostics, the expertise of certified Ayurvedic practitioners, rigorously tested gut-specialist formulations, and personalized after-care programs.
The core philosophy behind Lifechart is rooted in addressing the pressing need for specialized care in gut health, a critical aspect of overall well-being often overlooked. Their commitment to providing holistic solutions is evident in their unique offerings, making Lifechart the forefront leader as India's premier gut specialist brand. What sets them apart is their relentless focus on research-based and technology-backed Ayurvedic solutions, ensuring that their customers receive the highest quality of care.
Today, Lifechart has solidified its position as the country's preeminent gut specialist brand, proudly holding the title of India's number-one choice for those seeking research-based, technology-driven Ayurvedic solutions.
LifeChart Ayurveda - Mission and Vision
Vision: Lifechart aspires to emerge as the foremost global leader in technology-driven platforms, delivering personalized, reliable, and cost-effective Ayurvedic gut-care solutions for both preventive and curative dimensions of health and well-being to a diverse global audience.
Mission: Rooted in a profound commitment to making a positive social impact, Lifechart is dedicated to pioneering a transformative shift in alternative healthcare. The company aims to achieve this by providing secure, effective, and dependable Ayurvedic formulations specialized for optimal gut health, thus contributing to the overall well-being of individuals globally.
Core Belief: At its core, Lifechart operates under the belief that health is an all-encompassing journey, and a balanced gut plays a pivotal role in overall well-being. The company firmly believes in the transformative potential of Ayurveda, seamlessly integrating ancient wisdom with cutting-edge technology to offer individuals the tools they need to proactively manage their health. Lifechart's fundamental philosophy revolves around empowering individuals to embrace a proactive approach to their well-being through accessible and personalized Ayurvedic solutions.
LifeChart Ayurveda - Name, Tagline and Logo
Name: LifeChart
Tagline: Making Holistic Alternate Health Available Instantly
LifeChart Ayurveda - Product/Services
Lifechart Ayurveda takes pride in seamlessly merging technology with ancient wisdom to offer comprehensive gut-care solutions to the masses. Their technology-based diagnosis ensures end-to-end gut solutions, facilitated by a network of over 500 certified BAMS doctors. These highly qualified practitioners provide free consultations and prescriptions based on patients' past records, health conditions, and genetic makeup.
A key differentiator for them lies in maintaining the highest standards of quality and purity in their herbal formulations. All their Ayurvedic medicines are fully developed, formulated, and produced in-house, undergoing rigorous safety and quality checks before reaching consumers. Approval from leading certifiers, including the reputable quality testing agency FICCI Labs, underscores the credibility of their formulations.
What sets Lifechart apart is its customer-centric approach, allowing it to deliver top-notch gut solutions at affordable and value-for-money prices. As India's first Gut health-tech company, they are dedicated to building an alternate healthcare ecosystem that reaches the masses of Bharat, ensuring accessibility at an affordable price point.
Their vision goes beyond providing solutions; they aim to transform the patient experience in underserved markets by bridging existing gaps in primary healthcare. Through their unique business model, which incorporates an AI-based platform, they not only connect patients with Ayurveda doctors instantly but also offer doctor-formulated Ayurvedic products, clinically tested and followed by disease recovery patient care management programs – all under one roof.
In its commitment to innovation, they are developing a platform that not only bridges the gap between patients and premium Ayurveda but also looks ahead to predicting future diseases region-wise and suggesting health improvements. Their approach involves refining formulations based on past results and providing advanced diagnostic tools for Ayurveda doctors, ensuring a holistic and predictive healthcare experience for its users.
Michelle D’souza
LifeChart Ayurveda - Business and Revenue Model
As mentioned above Lifechart, they stand as India's pioneer Gut health-tech company, dedicated to constructing an alternative healthcare ecosystem that caters to the masses of Bharat at an affordable price.
Their vision revolves around transforming the patient experience in underserved markets by addressing gaps prevalent in primary healthcare. A source of pride for them is its swift connectivity between customers and Ayurveda doctors, achieved within 60 seconds through AI-based technology. This seamless connection allows them to offer not just instantaneous access but also doctor formulated, clinically tested Ayurvedic products. These are complemented by comprehensive disease recovery patient care management programs, all consolidated under one roof.
Their business model is characterized by a distinctive blend of AI-based platform approaches. This not only bridges the gap between patients and premium Ayurveda care but also heralds the future by predicting diseases region-wise, suggesting health improvements, and refining formulations based on past results. As part of their commitment to innovation, they are developing advanced diagnostic digital AI-based tools tailored for Ayurveda doctors, ensuring a comprehensive and predictive healthcare experience for all its users.
LifeChart Ayurveda - Customer Growth and Retention Strategies
Fortunately, they identified a significant industry gap in the challenge of finding Ayurveda doctors and receiving accurate diagnoses. Many existing options prioritize product sales over a systematic diagnostic approach. Their unique approach involves building a community by empowering one million Ayurveda doctors, providing them with a competitive advantage. Focusing exclusively on Gut products further established their brand as a specialized solution for gut-related issues. As a result, their strategies and effective products have contributed to a consistent monthly growth of 20-30%, with a remarkable 40% repeat customer rate.
LifeChart Ayurveda - Challenges Faced
Their primary challenge was entering the crowded market of Ayurvedic products without prior expertise. They aimed to challenge the prevailing perception that Ayurvedic treatments deliver only a placebo effect with minimal or no long-term results. To address this, they conducted extensive research with their team of doctors and established their own research and development (R&D) team called Lifechart Labs.
Lifechart Labs is dedicated to formulating its products, subjecting them to rigorous lab testing for efficacy and results, and ensuring the elimination of side effects. Their in-house team of doctors, boasting a combined experience of over 100 years, leads this effort. This decision stemmed from its initial experience with D2C brands that outsource manufacturing without conducting thorough R&D. Realizing the lack of quick and measurable results in such products, they shifted their focus to establish their own R&D unit.
LifeChart Ayurveda - Growth
In the last 6 months of their inception, their revenues have been growing at 30% MOM and achieved the ARR of 2- 2.4 cr. With strong technology, product mix & distribution models, they have touched the lives of 100,000 customers. After the closure of its current seed round which is 70% subscribed the company aims to close FY24- with a Net Revenue of 40cr & building on this continued growth they aim to touch INR 500cr net revenue number by FY-2026. They are coming up with new unique distribution channels involving a mix of mobility & Ayurveda at your door steps plan, these unique channels are were highly appreciated by Indian Government seed fund programs & Lifechart not only got selected out of 5000 applicants but grabbed an undisclosed grant & many other benefits from the SISF program incubated under Atal Incubation centre.
LifeChart Ayurveda - Funding
Lifechart has secured approximately $200,000 in funding from investors such as Nitish Mitterssain, Expertdojo, and Sunn91 Ventures. The founders have also invested around INR 20 lakhs to kickstart the business. Currently their new round is already 70% subscribed by marquee investors to name a few are marwari angels, Atal incubation fund & one of the biggest pharma listed companies with global presence along with another CAT A angel platform.
| DATE | Stage | AMOUNT | Investors Name |
|---|---|---|---|
| May 2022 | Pre seeding Funding | $200,000 | Nitish Mitterssain, Expertdojo, and Sunn91 Ventures |
LifeChart Ayurveda - Key Tools and Software
They have their own in-house CRM with its patented AI technology.
LifeChart Ayurveda - Awards and Achievements
The company has got 45k plus customers within 5 months of app launch and also sees a strong trend of 52% repeat customers month on month. At present, they have more than 100 plus Ayurvedic doctors who are all BAMS degree holders & affiliated with the Ministry of Ayush along with 50 plus mind counsellors.
Lifechart raised their pre-seed round in May 2022 which was oversubscribed from marquee investors like Nitish Mitterssain (Founder of Nazara technologies), Sunn91 Ventures, Sarath Sura, US-based VC Expert Dojo and a few other famous angel investors.
The brand won the second best health tech startup award 2022 by the NSDC (National Skill Development Corporation) in just 6 months of its inception.
Lifechart has been recognized by Silicon India under 10 best AYUSH startups in India.
LifeChart Ayurveda - Competitors
In the crowded Ayurveda market, their main competitors are D2C companies. However, Lifechart differentiates itself through cutting-edge technology, including AI-driven diagnostics and demand prediction. Additionally, their holistic ecosystem approach sets them apart, enabling them to provide a comprehensive range of alternate wellness solutions beyond Ayurveda. This differentiation positions them as a global player akin to EU YAN SANG from Bharat.
LifeChart Ayurveda - Future Plans
As part of its ongoing innovation, its upcoming AI features will provide Ayurveda doctors with highly effective digital diagnosis tools. This empowers them to enhance their diagnostic capabilities, leveraging patient historic data and facilitating more precise and personalized treatment recommendations. Their
commitment to advanced technology sets them apart in delivering comprehensive wellness solutions.
Abira Dutta
FAQs
What is LifeChart Ayurveda?
LifeChart Ayurveda is India’s first holistic alternative health-tech platform that caters to the overall well-being of individuals. The fast-growing health tech brand is striving to build an alternate healthcare ecosystem that benefits people in India and overseas.
Who is the founder of LifeChart Ayurveda?
Mukul Shah is the founder of LifeChart Ayurveda.
When was LifeChart Ayurveda founded?
LifeChart Ayurveda was founded in the year 2021.
Where are LifeChart's Ayurveda headquarters?
LifeChart's Ayurveda headquarters are situated in Gurugram, Haryana, India.
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