Mamaearth has raised a $50 million funding round led by Sofina Ventures
Along with the principal investment from Sofina Ventures, the round also included participation from early investors such as Fireside Ventures, Stellaris Venture Partners, Sharp Ventures, Titan Capital, and several other institutional investors.
Mumbai-based Mamaearth, a toxin-free personal care brand, has raised $50 million in a series of funding rounds, with the latest led by Sofina Ventures SA. In addition to new investors, existing investor Sequoia Capital India participated in the game.
Along with the lead investment from Sofina Ventures, a Belgian investment business, the round also included participation from early investors such as Fireside Ventures, Stellaris Venture Partners, Sharp Ventures, and Titan Capital. Sofina Ventures is a venture capital firm based in Brussels. In addition, some of the company’s early employees were able to cash out their vested ESOPs as part of the financing.
With their revolutionary inventions, high execution pace, and commitment to satisfying customers, the Mamaearth team is continually pushing the boundaries in the personal care industry. Varun and Ghazal are imaginative, ambitious, and world-class entrepreneurs, and we are happy to be their long-term partners in their endeavours to build a better world “Yana Kachurina, investment manager at Sofina Ventures SA, shared her thoughts.
The firm intends to use the money to accelerate brand expansion by aggressively increasing its offline distribution and investigating inorganic growth options in the beauty and personal care industries.
“With a vision to become a brand house, the company is now concentrating on developing brands that offer millennial offers through an internet-first approach,” says the company. This round will assist in amplifying the process, strengthening the D2C and offline expansion of Mamaearth, and further speeding the growth of The Derma Co, which has already shown early signs of success since its inception in 2020 do so.
As part of our inorganic development strategy, we will look into the beauty and personal care opportunities. It is with great gratitude that we acknowledge the reaffirmation of Sofina Ventures SA and Sequoia Capital India in addition to our existing investors Fireside Ventures and Stellaris Venture Partners for their unwavering support and confidence in us throughout our journey thus far “Mamaearth’s co-founder and CEO, Varun Alagh, shared his thoughts.
Mother-son team Ghazal and Varun Alagh founded Mamaearth, a 100 per cent toxin-free and natural baby care, skincare, and hair care product. Mamaearth products are Madesafe-certified, and the company is based in New York City. Mamaearth has grown to have more than 120 goods and has reached over 5 million clients in 500 Indian cities in just four years. It is the fastest-growing FMCG start-up in India, with a run rate of 500 crores.
Mamaearth goods are accessible on the company’s website and mobile application, as well as on major e-commerce platforms such as Amazon, Nykaa, and Flipkart and in over 12,000 stores throughout the country.