The D2C brand plans to deploy the funds to drive brand growth through expanding its offline distribution and explore inorganic growth opportunities.
July 27, 2021
Mamaearth, the toxin-free personal care brand, has raised USD 50 million in a funding round led by Sofina Ventures SA. Existing investor Sequoia Capital India has also participated in the round.
Along with primary infusion by Sofina Ventures, a Belgian-based investment company, the round also saw participation from early investors like Fireside Ventures, Stellaris Venture Partners, Sharp Ventures, and Titan Capital. The round gave some early employees an opportunity to monetize their vested ESOPs.
“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 SA.
The company plans to utilize the raised capital to drive brand growth through actively expanding its offline distribution and explore inorganic growth opportunities in beauty and personal care.
Also Read: Mamaearth to hire 200 people this year, crosses Rs 500 Cr revenue run rate
“With a vision to become a house of brands, the company is currently focusing 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,” said Varun Alagh, co-founder and CEO, Mamaearth.