India: Personal care brand Mamaearth raises $50m led by Sofina Ventures

Mamaearth, the toxin-free personal care brand, has closed its latest $50 million round led by Sofina Ventures SA. Existing investor Sequoia Capital India also participated in the round.

Along with primary infusion by Sofina Ventures, a Belgian-based investment company, the round also saw participation from early investors like Fireside Ventures, Stellaris Venture Partners, Sharp Ventures and Titan Capital. The round gave some early employees an opportunity to monetize their vested ESOPs.

“Mamaearth team is constantly pushing the boundaries in the personal care space through their disruptive innovations, rapid execution pace and focus on delighting customers. Varun and Ghazal are visionary, ambitious and world-class entrepreneurs and we are proud to back them as their long-term partners” said Yana Kachurina, investment manager, Sofina Ventures SA.

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

“With a vision to become a house of brands, the company is currently focusing on creating brands with millennial propositions with an internet-first approach. This round will help amplify the process and strengthen the D2C and offline expansion of Mamaearth, along with further accelerating the growth of The Derma Co, which is already showing early signs of success, since its launch in 2020. 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” said Varun Alagh, co-founder and CEO, Mamaearth.

Founded by husband-wife duo Ghazal Alagh and Varun Alagh, Mamaearth is a brand with Madesafe- certified products that offer 100% toxin-free & natural baby care, skincare, and hair care products. In a span of 4 years, Mamaearth has created a product portfolio of more than 120 products and has reached over 5 million customers in 500 Indian cities, and is the fastest-growing FMCG start-up to hit 500 crore run rate in India.

Mamaearth products are available on its website, app and on major e-commerce platforms such as Amazon, Nykaa, Flipkart, and over 12,000 stores across the country.

This article was first published on livemint.com.

Singapore Reporter/s

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Following vacancies can be applied for (only in Singapore).   

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.