Mumbai-based Pep Technologies Pvt. Ltd., which owns skin and hair care brand mCaffeine, has raised about $5.6 million (Rs 42 crore) in Series B funding led by Amicus Capital, along with RPSG Ventures, and Aman Gupta, founder of Boat Audio.
The startup’s existing investor Telama Investments also participated in the funding round.
“We will utilise the funds in scaling up our R&D capabilities significantly. Apart from R&D, we will invest in expanding our distribution across digital channels and continue to grow our operations, brand building and organisational scale-up. There are about 20 products in the portfolio so far and we have aggressive plans to further launch 15-20 products in the next one year,” Tarun Sharma, co-founder & CEO, mCaffeine said.
mCaffeine had raised $2 million in Series A round of funding in June 2019 from a group of investors led by RPSG Ventures. Currently, mCaffeine has 20 skin and hair care products in its portfolio that it sells across 18,000 pin codes.
INDIA DEAL MONITOR
Here are the prominent venture capital transactions in India from September 20-23, 2020.
|Startup||Headquarter||Investment Size (USD)||Investment Stage||Lead Investor(s)||Other Investor(s)||Industry||Verticals|
|mCaffeine||Mumbai||5.6 million||Series B||Amicus Capital, RPSG Ventures, Aman Gupta, Founder of Boat Audio||Telama Investments||Consumer Products||Beauty & Hygiene|
|Servify||Mumbai||23 million||Series C||Iron Pillar||Blume, Beenext, Tetrao SPF, funds managed by Global Alternatives Investor 57 Stars, Sparkle Fund, SF Roofdeck Capital LLC, Go Ventures, Singularity Ventures, Synergy Capital Partners, Trifecta Capital||Consumer Services||-|
|Waybeo Technology Solutions||Thiruvananthapuram||-||Equity||Bharti Airtel||-||Telecoms||Cloud Computing|
|Irida Interactive Pvt Ltd (ClanConnect.ai)||Delhi||680,000||Seed||Venture Catalysts||Samarth Bedi, Sandeep Aggarwal, Aakrit Vaish, Haresh Hingorani||Marketing/Advertising||AI and Machine Learning|
|Onsitego||Mumbai||10 million||Series B||IFC||-||Consumer Services||-|
|Melorra||Bengaluru||12.5 million||-||Symphony Asia, Lightbox Ventures, Alteria Capital||Family offices of Burman, Jeejeebhoy||Consumer Products||E-commerce|
|Vivriti Capital||Chennai||14 million||-||Creation Investments||-||Financial Services||Fintech Lending|
|GenieTalk||Indore||750,000||Angel||Shankeshwar Technologies LLP||-||Software||AI and Machine Learning|
|Precily||Palo Alto, New Delhi||-||Seed||Windrose Capital||-||Software||SaaS|
|BestDoc||Kerala||1.2 million||Pre-Series A||Accel, Arkam Ventures||SEA Fund||Healthcare Services||HealthTech|
|Classplus||Noida||10.2 million||-||Alpha Wave Incubation, RTP Global, Blume Ventures||-||Education/Training||SaaS|