Shilpa Shetty-backed Mamaearth’s seed investors exit with 20 times their investment
Mamaearthraised ₹130 crore from SequoiaIndia with participation from existing investors, Fireside Ventures, Stellaris Venture Partners and Sharp Ventures.
- Backed by Bollywood actress
Shilpa Shetty, Mamaearth produces and sells skincare, haircare and babycare products.
- Currently, the startup has over 1.5 million customers, across 500 cities in India.
The startup also claims to be one of the fastest-growing FMCG brands to reach a ₹100 crore run-rate.
Backed by Bollywood actress Shilpa Shetty, Mamaearth produces and sells skincare, haircare and babycare products. It was founded by Varun and Ghazal Alagh in 2015.
Advertisement“We have a long way to go at Honasa (Mamaearth’s parent company). Our vision is to create the FMCG conglomerate of the future by building brands that connect strongly with millennials and Gen Z customers using the combined power of digital marketing and e-commerce at large scale. Sequoia India’s investment at this stage of our journey validates this vision of building a global brand of the future,” said Varun Alagh, Founder and CEO of Mamaearth.
With this funding round, Mamaearth’s undisclosed seed investors made as much as 20 times their initial investment as they exited.
Currently, the startup has over 1.5 million customers, across 500 cities in India.
The startup now aims to be a ₹500 crore brand in the next three years and also hopes to acquire 5 million new customers. An international expansion to key markets in Southeast Asia is also in the cards.
“Out of India’s over $15 billion personal care market, online channels contribute to only 3-5%. With 15-20% of Indian shoppers influenced digitally and expected to double in next 7-8 years, digital first brands have the potential to redefine the architecture of tomorrow’s FMCG companies. Varun’s vision is to ride these market tailwinds to create a multi-brand, cross geo FMCG company over the next decade,” said Ishaan Mittal, principal, Sequoia Capital India.
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