Personal care brand Mamaearth raises Rs 130 crore

By

Maverick Martins

Published
Jan 8, 2020

Personal care brand Mamaearth has raised Rs 130 crore ($18 million) in the third round of institutional funding, led by Sequoia India.
 

Other investors to participate in the funding round included Fireside Ventures, Stellaris Venture Partners and Sharp Ventures.
 
The brand, which retails natural cosmetic and lifestyle products for men, women, and babies, will use the money for expansion and customer acquisition, as well as product development.

“We will be looking at launching more brands for millennials under Honasa to grow strongly in the next three years. With this funding, we will also be looking at Southeast Asia markets. We plan to replicate our online model in other countries which have a millennial presence and also strengthen our presence in tier-II markets,” Varun Alagh, co-founder of Mamaearth said in a statement.
 
Commenting on the investment, Ishaan Mittal, principal at Sequoia Capital India LLP added: “Out of India’s $15B+ personal care market, online channels contribute to only 3-5 percent. With 15-20 percent of Indian shoppers influenced digitally and expected to double in the next 7-8 years, digital-first brands have the potential to redefine the architecture of tomorrow’s FMCG companies.”
 
Founded in 2016 by husband-wife duo, Varun and Ghazal Alagh, Mamaearth sells its products on major e-commerce platforms such as Amazon, Nykaa and Flipkart. The brand also has a strong offline footprint, in over 2,000 multi-brand stores across 40 cities in the country.