Companies

Led by Sofina Ventures, Mamaearth raises $50 million

Our Bureau Bengaluru | Updated on July 26, 2021

Also witnessed participation from existing investor Sequoia Capital India

Mamaearth, the toxin-free personal care brand, has closed its latest $50-million round led by Sofina Ventures. The round also witnessed participation from existing investor Sequoia Capital India.

Along with primary infusion by Sofina Ventures, the Belgian-based investment company, the round also saw secondary sale by early investors such as Fireside Ventures, Stellaris Venture Partners, Sharp Ventures and Titan Capital. The round also gave some early employees an opportunity to monetise their vested ESOPs.

Brand growth

The company plans to deploy the funds to drive brand growth through aggressively expanding their offline distribution and explore inorganic growth opportunities in the beauty and personal care.

“The Mamaearth team is constantly pushing the boundaries in the personal care space through their disruptive innovations, rapid execution pace and focus on delighting customers. Varun and Ghazal are visionary, ambitious and world-class entrepreneurs, and we are proud to back them as their long-term partners” said Yana Kachurina, Investment Manager, Sofina Ventures, in a press statement.

“With a vision to become a house of brands, the company is currently focussing on creating brands with millennial propositions with an internet-first approach. This round will help amplify the process and strengthen the D2C and offline expansion of Mamaearth, along with further accelerating the growth of The Derma Co, which is already showing early signs of success since its launch in 2020. We will also be exploring inorganic growth opportunities in the beauty and personal care segment. We would like to thank Sofina Ventures and Sequoia Capital India for reaffirming their faith in us along with our existing investors Fireside Ventures and Stellaris Venture Partners for their undaunted support and trust in our journey so far,” said Varun Alagh, co-founder and CEO, Mamaearth.

Personal care brand, Mamaearth, raises Rs 130 cr in a round led by Sequoia India

Founded by husband-wife duo Ghazal Alagh and Varun Alagh, Mamaearth is a brand with Madesafe-certified products that offer 100 per cent toxin-free and natural baby care, skincare, and hair care products. In a span of four years, Mamaearth has created a product portfolio of 120+ products and has reached over 5 million customers in 500 Indian cities, and is one of the fastest-growing FMCG start-ups to hit ₹500-crore revenue run rate in India. Its products are available on its website, app and on major e-commerce platforms such as Amazon, Nykaa, Flipkart, and over 12,000 stores across the country.

Published on July 26, 2021

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