India’s Mamaearth bags unicorn tag after fresh fundraise led by Sequoia

Honasa Consumer Pvt Ltd, the parent company of baby and mother care brand Mamaearth, has entered the unicorn club after raising $37.5 million in its Series F funding round led by venture capital firm Sequoia Capital.

Honasa Consumer has issued 839 compulsorily convertible preference shares (CCPS) at an issue price of Rs 33,85,049 to raise the aforesaid amount, according to the company’s latest regulatory filings. The capital raised will be used for business expansion.

Entrackr first reported the development citing that the fresh funds were raised at a valuation of $1.07 billion.

Mamaearth has become the 43rd Indian startup to enter the unicorn club in 2021. In July, the company had raised $50 million led by European investment firm Sofina Ventures. Sequoia Capital India also participated in the round that had valued the company at $730 million.

Founded by husband-wife duo Ghazal Alagh and Varun Alagh, Mamaearth claims to offer 100% toxin-free and natural baby care, skincare, and hair care products. Since inception in 2016, Mamaearth has created a product portfolio of more than 120 products and claims to have reached over 5 million customers in 500 Indian cities.

The company crossed an annual revenue run rate of Rs 700 crore in the financial year 2021.

Earlier this month, Mamaearth had acquired woman-focused content platform Momspresso and its associated influencer engagement platform Momspresso MyMoney for an undisclosed amount.

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.

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.