Home » Mamaearth secures USD 50Mn round led by Sofina Ventures SA
Gurgaon: Mamaearth, the fast-growing toxin-free personal care brand closes the latest USD50 Million round led by Sofina Ventures SA. The round witnessed participation from existing investor Sequoia Capital India too.
Along with primary infusion by Sofina Ventures SA, the Belgian-based investment company, the round also saw secondary sale by early investors like Fireside Ventures, Stellaris Venture Partners, Sharp Ventures and Titan Capital. The round also gave some early employees an opportunity to monetize their vested ESOP.
“We will also be exploring inorganic growth opportunities in the beauty and personal care segment. We would like to thank Sofina Ventures SA 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.”
“Our company is built on the proposition to solve problems for the millennials by addressing their concerns through safe and effective products. With a toxin-free and natural ingredient proposition, we started Mamaearth in 2016 with our baby care range and soon, on consumer demand, diversified into personal care led by our philosophy of ‘Goodness Inside’ through our products and value system. Understanding the other end of the spectrum of millennial concerns, we then launched The Derma Co. last year, with an elaborate portfolio of science backed skincare products with active ingredients in the right percentages. We believe in constantly innovating our product portfolio to stay relevant to our audience by understanding their needs and innovating basis the changing consumer requirements,” Ghazal Alagh said.
The company plans to deploy the funds to drive brand growth through aggressively expanding their offline distribution and explore inorganic growth opportunities in beauty and personal care.