India: Redcliffe Capital invests in hygiene products retailer SafetyKart

Gurgaon-based fund Redcliffe Capital on Wednesday said it has invested in an online retailer of safety and hygiene products, SafetyKart Retail while the company has moved its private label brand and product PeeSafe to a newly founded entity Redcliffe Hygiene.

“Redcliffe Capital has bought a 10% stake in SafetyKart.com and a sizeable share in Redcliffe Hygiene Pvt. Ltd with a board seat,” said Dheeraj Jain, managing director at Redcliffe Capital.

While the investment has gone to both SafetyKart and Redcliffe Hygiene, Jain did not disclose the absolute numbers.

“We have made $1 million commitment across milestones and phases of brand building (of products under Redcliffe Hygiene)” he added.

Founder of SafetyKart, Vikas Bagaria has joined the founding team of Redcliffe Hygiene and will be heading the venture, while SafetyKart will be led by a team of professionals.

The funds will be used for introducing a product range under Redcliffe Hygiene and making it available pan-India through its offline distribution channel.

Founded in February 2013, SafetyKart sells safety and hygiene products online across category such as healthcare, travel, and sports. Redcliffe Hygiene was founded in January 2017.

Having acquired PeeSafe, a toilet seat sanitizer spray, Redcliffe Hygiene will be introducing a range of products such as MoskitoSafe for safety from mosquito bites, GymSafe for unhygienic equipments at gyms, among others. These products will sell through not only SafetyKart, but also e-commerce platforms such as Amazon, Flipkart and offline retail stores.

The company claims to have sold over 50,000 units of PeeSafe in last 12 months, currently available in countries like Australia, Nigeria, Kenya and Singapore.

Redcliffe Hygiene plans to make it available in Middle East, Spain, Ghana and Malaysia in 2017, expecting to register Rs1 crore in sales by September as it scales to make PeeSafe and other products available country-wide through over 100,000 stores by June, added Jain.

Redcliffe Hygiene is targeting women in the age group of 18-35 years, residing in metro and tier 2 cities.

Another company that sells intimate hygiene products for women, First Step Digital Pvt Ltd, had raised Rs2.96 crore in pre series A round of funding from Indian Angel Network, Mint reported in March.

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India Dealbook: FastFox gets $4.6m from Lightspeed, others; DataWeave fundraise

This article was first published on Livemint.com

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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.