Juicy Chemistry raises $6.3 million to fuel expansion
Skin and personal care brand Juicy Chemistry has raised $6.3 million (Rs 45.8 crore) in a Series A funding round led by Belgium-based investment firm Verlinvest.
Juicy Chemistry will use the funds for brand building, diversification of portfolio, and expansion of its business operations across India.
Commenting on the funding, Pritesh Asher, CEO of Juicy Chemistry, in a statement said: “We are keen to leverage this capital for the rapid expansion of Juicy Chemistry’s thriving e-commerce platform and omnichannel distribution capabilities, to reach new and existing geographies, to hire talent, for brand building and to cater to the increasing demand for products, both domestically and in the international market.”
Commenting on the investment, Arjun Anand, executive director at Verlinvest, added: “We are excited to start our journey with Juicy Chemistry, which forms part of our global effort in backing unique digital-first beauty brands for the long term. Verlinvest looks for authentic and passionate entrepreneurs who are creating a consumer revolution using their product and brand stories.”
Juicy Chemistry was set up by Pritish Asher and Megha Asher in 2014. It sells over 100 skincare products and claims to be an organic- and natural products-focused beauty brand. It competes with brands such as Nykaa, MyGlamm, Sugar Cosmetics, Plum, Purplle, and Mamaearth, among others.
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