Mamaearth Parent Enters Unicorn Club After Getting $52 Million From Sequoia, Valued At $1.2 Billion

Honasa Consumer, the dad or mum firm of non-public care model Mamaearth and The Derma Co, has raised $52 million within the newest spherical of funding led by Sequoia to enter the coveted unicorn membership, at a valuation of $1.2 billion.Other traders who participated within the funding spherical embody, Belgium-based funding firm Sofina Ventures SA and Evolvence, a UAE-based India-focused fund. The spherical offered an choice for monetisation of worker inventory possession plans (ESOPs), the corporate stated in a press release.”We might be deploying the funds in direction of model launches, increasing distribution, inorganic progress and increasing the present portfolio throughout borders. Sequoia, Sofina and Evolvence have distinctive strengths in US, Europe & GCC respectively which can assist us develop internationally & study from others in these markets,” stated Varun Alagh, co-founder and CEO, Honasa Consumer.Also Read:The firm additionally stated it can utilise the recent capital for the growth of its portfolio of non-public care D2C manufacturers. Honasa Consumer not too long ago launched Aqualogica, a hydration-based skincare model to foray into a brand new phase.In addition, it can deploy part of the funds for product innovation, distribution, and advertising and marketing of its manufacturers. The growth of distribution for Mamaearth and The Derma Co. will stay one other focus space, the agency added.Launched in 2016, Mamaearth has grown to 140-odd SKUs in child care, skincare, and haircare segments, and has served greater than 5 million customers throughout 500 cities. The startup crossed an annual income run charge of $100 million within the monetary 12 months 2021.The firm additionally has a imaginative and prescient of turning into a ‘House of Brands’ to go deeper within the D2C magnificence and private care phase. In December 2021, Mamaearth acquired parenting content material platform Momspresso and related influencer advertising and marketing platform, Momspresso MyMoney for an undisclosed quantity.The international magnificence and private care market are anticipated to the touch $725 billion by 2025, based on a report by Avendus. India has added 80 million web shoppers within the final three years alone to achieve 130 million. As per the Avendus report, the estimated magnificence and private care market measurement in India is predicted to achieve $28 billion in 2025.(Edited by : Jomy Jos Pullokaran)First Published: Jan 01, 2022, 12:58 PM IST

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