The consumer of Honasa, the parent company of personal care brands such as Mamaearth and Derma Co, said on January 1st that it increased $ 52 million in a redwooded round of a $ 1.2 billion valuation , as the financing boom performs the new year. .
Sofina Ventures Sa and Evolvence also participated in the turn. This is six months after the company collected $ 50 million in a funding cycle directed by Sofina Ventures, enhancing $ 730 million.
“We deploy the funds to branded launches, expanding distribution, inorganic growth and expand the current border portfolio,” said Varun Alagh, Co-Founder and CEO, “said Honasa’s consumer,” said .
Although the company said that the Cycle also gave employees an opportunity to sell their ESOP to acquire (employee stock options), she did not specify the quantum or number of people in would benefit.
The other Honasa investors include Fireside Ventures and Stellaris Venture Partners.
Founded in 2016 by the Duo-wife-wife of Varun and Ghazal Alagh, Mamaearth has emerged as one of the hottest New Age consumption brands in India, which ride the so-called direct vague to consumption (D2C) , where brands sell consumers directly from their website or via e-commerce platforms rather than going to the traditional and expensive offline route.
It offers more than 80 natural products without toxin, including bamboo-based baby wipes, face masks, lotions and hair care products. He also launched a second brand, Derma Co, at the end of 2019.
Their products affected an annual income rate of more than 500 RS crore, one of the few consumer brands.
It plans to use the funds to expand its portfolio of D2C personal care brands. He has recently launched Aqualogica, a brand of skin care based on hydration, adapted to the Indian skin and tropical weather.
It will also continue to expand the distribution of Mamaearth and Derma Co and explore strategic inorganic growth opportunities in the personal care segment.
“Looking at the scale of Mamaarth and Success of Derma Co, we are convinced that we have the expertise to build brands with a millennial connection,” Alagh said. “Sequoia, Sofina and Evolvence have unique forces in the United States, Europe and CCG., Respectively, that will help us develop internationally and learn from others in these markets.”
Ghazal Alagh, Co-Founder and IOC, Honasa Consumer Pvt Ltd, said: “The recent cycle will allow us to feed our innovation funnel and provide a wider assortment of personal problem solving products for millennia” .
According to reports, D2C trademarks could be worth $ 100 billion over the next five to seven years, as the coronavirus pandemic has shown consumers the way to buy online.
D2C brands begin by selling their products online and are assisted by other e-commerce markets such as Flipkart, Myntra and Amazon. The most lucrative sectors of D2C brands include beauty and personal care, food and drinks (F & B) and fashion.
The year 2021 was a blockbuster one for the Indian startup ecosystem, with 43 new age companies valued at more than $ 1 billion. Before 2021, India had only 30 unicorns of all.