Gurugram-based personal care brand Mamaearth’s parent company Honasa has raised ?130 Cr in Series B funding round from Sequoia India. The funding saw participation from existing investors including Fireside Ventures, Stellaris Venture Partners, and Sharp Ventures.
The firm plans to use the money for its growth over the next 3 years and takes its revenue to ?500 crore by obtaining 5 million customers. Moreover, they will use it to start extra brands for Honasa, Mamaearth’s parent company. They are also planning to make use of funds to employ talent and enlarge its products to markets in Southeast Asia.
Both husband-wife Varun Alagh and Ghazal Alagh founded Mamaearth in 2016, they incorporated Honasa Consumer Private Limited and launched toxic-free products for pregnant women, babies, and new mothers. It also produces some products like natural skincare, baby care, and hair care. Their initial products were baby lotion and mosquito repellent. The firm's products are 100% toxic-free compared to other brands.
The firm declares that it has 1.5 million users in 500 Indian towns and cities. Besides, putting in their savings of 90 Lakh, the couple got the funding from Angel Investors. With this latest funding, their total funding has now touched the ?20 cr mark in less than two years. Besides selling their products on their own websites, their products are also available on the eminent e-commerce platforms like Nykaa, Firstcry, Amazon, and Paytm.
Founder and CEO of Mamaearth, Varun Alagh says that the firm is aiming to bring the FMCG conglomerate platform in the future. New brands greatly connect the millennials and Gen Z customers using the potential of e-commerce and digital marketing at a big scale.
Ghazal also adds that their products are tested in their own laboratory, once the products are tested and declared safe, they are then sent for further testing to ensure that this microbial testing does not affect the product life cycle.
Mamaearth said that early angel investors are also very happy to invest some amount in this round. Because in return, they will get a profit share of 20x on their first investment.
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