Connect with us

News

Sequoia may lead the venture round for Mamaearth with about USD 20 mn

The Asia’s first MadeSafe certified baby care brand is slated to acquire investment in a Series- B round of funding

July 12, 2019
inMamaearth, an online retail brand offering a range of toxin-free and hypoallergenic baby and toddler products, is expected to gain up to USD 20 million (about Rs 137 crores) in a Series B round of funding led by Sequoia Capital India, two people in the know has informed Mint. This investment will enable it to fortify its presence and reach further.
This Asia’s first MadeSafe certified brand manufactures toxin-free and hypoallergenic baby care product range in India. It actually has more than 50 products in the baby personal care segment and it also sells pre natal and post natal care products for mothers. Its range also has toxin-free products, including bamboo-based baby wipes, lotions and face masks.
Mamaearth has a number of prominent investors- Marico’s Rishabh Mariwala who manages Sharrp Ventures; Snapdeal co-founders Kunal Bahl and Rohit Bansal; and actor and entrepreneur Shilpa Shetty Kundra. It had acquired USD 4 million (about Rs. 29 crores) funding led by Stellaris and Fireside in September 2018.
Started by husband-wife duo Varun and Ghazal Alagh in the year 2016, Mamaearth has MadeSafe approved products which are also enriched with natural ingredients such as Calendula Extract, Shea butter, Jojoba Oil to name a few. The company has offline retail stores in Mumbai, New Delhi, Chennai, Pune, Kolkata and Nagpur. It is distinctly expected that it will expand its retail presence in a number of cities across the country very soon. The products are available online on Amazon, Flipkart, Netmeds, 1MG and Firstcry, as well as its own website.
Sequoia Capital is an American venture capital firm headquartered in Menlo Park, California. The company has majorly deployed investment funds in the technology industry and specifically in countries including India, Israel, and China.

Trending