Nobel Hygiene Pvt Ltd said it has raised ₹132 crore from the existing investor Sixth Sense Ventures to strengthen its manufacturing capabilities and for accelerating growth trajectory. This takes the total investment made by consumer-centric venture fund Sixth Sense Ventures (SSIO-III ) in the company to ₹200 crore.

Established in 2000, the company makes baby diapers under brand Teddyy and Snuggy and sanitary pads under brand Rio.

In June 2021, the hygiene products major had raised ₹450-500 crore in an investment round led by Quadria Capital. During this round, the Sixth Sense Ventures also bought shares in an independent parallel transaction from other angel investors while PE investors CLSA Capital Partners, Access India fund and co-investors exited the investment.

Kamal Johari, MD & CEO, Nobel Hygiene said, “We are the largest Indian absorption hygiene manufacturers, and are excited to further accelerate our plans with this new investment. Now that our factory expansion in Gujarat is complete, we are poised to manufacture more, better, and faster to meet increasing demands across the country. This, alongside the investment, will help us progress towards our goals in the coming years; making up for the COVID slump the industry experienced in the last few years.”

The company operates in the $2.5 billion Indian absorbency category which is growing at about 15 per cent per annum. The baby diaper category penetration in India remains low at 7 per cent while adult diaper category is at 3 per cent. The company said it is on track to hit the ₹1,000 crore-revenue mark by the end of the financial year.

Nikhil Vora, Founder & CEO of Sixth Sense Ventures said, “ Nobel fits perfectly into the Sixth Sense thesis of betting on first generation founders, creating challenger brands in the high potential absorbency category. We have been big believers in this category, one of the few consumer categories that ensures high frequency, brand loyalty along with a long consumer lifecycle.”

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