Mcaffeine raises Rs 42 crore of funding, plans expansion across channels
Pep Technologies-owned personal care brand Mcaffeine has raised Rs 42 crore ($5.8 million) in a Series B funding round from a consortium of investors led by Amicus Capital, along with RPSG Ventures and existing investors, Telama Investments.
The company will be using the funds in research and product development. It also plans to strengthen its distribution network across channels.
Commenting on the funding, Tarun Sharma, cofounder at Mcaffeine, in a statement said: “We will utilise the funds in scaling up our R&D capabilities and invest in expanding our distribution across digital channels, brand building and organisational scale-up. We have plans to launch 15-20 products in the next one year.”
Talking about the investment, Sunil Theckath Vasudevan, cofounder at Amicus Capital, added: “We are impressed with Mcaffeine’s research-led product development and engagement with consumers across social media. The company has also demonstrated healthy unit economics while delivering high revenue growth.”
Founded by Tarun Sharma and Vikas Lachhwani in 2016, Mcaffeine has 20 skincare and haircare products in its portfolio. It sells through its website and retails also through online marketplaces like Amazon, Flipkart, and Nykaa.
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