1908 Eventures raises $2 million from Roots Ventures, others
1908 Eventures Pvt Ltd, the company which owns beauty platform Sublime Life, has raised $2 million (Rs 15 crore) through Roots Ventures. The family offices of Apar Industries and Umesh Sanghvi, along with a host of other angel investors, also participated in the funding round.
The company will utilise the funds to scale up and strength the operations of Sublime Life, coupled with product diversification and brand acquisition.
Commenting on the funding, Deep Lalvani, CEO of 1908 E-Ventures, in a statement said, “As we move forward to transform our legacy B2B contract manufacturing business, I am happy to partner with Roots Ventures, and other experienced investors. We would use these funds to grow our existing owned and exclusive brands portfolio, launch international brands and acquire smaller D2C brands in the BPC (beauty and personal care) and wellness space creating a unique platform with end-to-end capabilities.”
Commenting on the investment, Japan Vyas, managing partner at Roots Ventures added, “Rather than just a brand acquisition strategy, brands require a platform which enables R&D to distribute. Leveraging the parent company’s existing capabilities in R&D and manufacturing, the company intends to create a portfolio of domestic and international brands and an ensemble of brand enabler services to be used as a plug and play offering for external brands for a fee.”
Sublime Life, established in 2019, houses cruelty-free skincare brands including Martiderm from Spain, Faith in Nature from UK and homegrown brands like Juicy Chemistry, Mom's Co, Dr. Sheth's, and Bare Necessities, among others.
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