Honasa Consumer raises $37.5 million to enter India’s unicorn club
Honasa Consumer Pvt. Ltd (HCPL), parent company of Mamaearth, The Derma Co and the House of Brands, has raised around $37.5 million (Rs 280 crore) in its latest funding round led by Sequoia, making it the latest entrant into the country’s unicorn club.
Earlier this year, the company had raised $50 million in a funding round led by Sofina Ventures at a valuation of $730 million.
The companu has approved the allotment of 839 Series F preference shares at an issue price of Rs 33,85,049 to raise around $37.5 million, according to regulatory filings.
Honasa will utilise the fresh capital for expansion of its business, and to fund operations.
Founded by husband-wife duo Ghazal and Varun Alagh, the Gurugram-based start-up claims to have crossed an annual revenue run rate of $100 million in the financial year 2021.
The company had recently acquired a female-oriented content platform, Momspresso and currently in the process of acquiring new-age brands in a bid to expand its product offerings.
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