Mamaearth bags a USD 50Mn round led by Sofina Ventures SA

By VARINDIA - 2021-07-26

Mamaearth bags a USD 50Mn round led by Sofina Ventures SA

Mamaearth has closed 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.

 

The company plans to deploy the funds to drive brand growth through aggressively expanding their offline distribution and exploring inorganic growth opportunities in beauty and personal care.

 

Ghazal Alagh, Co-Founder and CIO, Mamaearth comments, “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 the changing consumer requirements. With this thought, we have been able to create a portfolio of 140+ products under Mamaearth and 40+ products under The Derma Co. To achieve this, we have built a diverse team of millennials who constantly endeavor to further our purpose. We strongly believe that our team forms our foundation, and the consumers are the reason for our being. We are committed to our purpose of goodness inside through toxin-free and safe products. The recent round that we closed will further provide impetus to our innovation funnel and help us serve our consumers with a wider assortment of products”

 

Ishaan Mittal, Principal, Sequoia India comments, “Mamaearth has an audacious goal of disrupting the $25B personal care industry by using technology across the three key pillars of FMCG – product, marketing, and distribution. They have established themselves as a clear market leader in the digital first brands space, by providing consumers a refreshing bouquet of toxin-free products. The team at Sequoia Capital India are big believers in Ghazal and Varun’s vision and super excited to double down with another round of investment.”


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