Haeal Enterprises, a leading FMCG model in South India, has raised ₹11 crore from 13 angel fund investors, including Hedge Equities Founder Alex K. Babu and angel fund investor Raveendranath Kamath.
Haeal Enterprises was set up by the Ernakulam-based Rahul Mamman, an alumnus of IIT Ahmedabad, in 2020.
Haeal is aiming to achieve ₹500 crore turnover in the next five years. The company had recently acquired the Kerala-based two FMCG companies, Lora Soaps and Orocleanx. Haeal stated that the funds will be utilised for acquisition and expansion plans.
Haeal offers premium products at affordable price ranging from soaps, shampoos and body lotions. The company also markets ayurvedic products under its brand.
The company had recently signed an agreement with Hemas Pharmaceuticals to launch Sri Lanka’s Kumari hair oil in Kerala market early next year. It had also reached an agreement with Thaikkat Moos to market their Nalparama range of products. Haeal, along with the expansion plans, is also in the process of launching its products in GCC countries.