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Deepti Sri · · 1 min readReport: Sequoia India-backed hair and skincare startup bags $50m in funding
“Hair and skincare brand Mamaearth has raised US$50 million in a round led by Belgian investment fund Sofina in participation with existing backer Sequoia Capital,” Entrackr reported.
Details:
- The fresh funds will be used to expand Mamaearth’s offline presence, while a significant portion will also be kept aside for acquisitions.
- Fireside Ventures, Stellaris Venture Partners, Sharp Ventures, and Titan Capital also sold parts of their holdings in the latest financing round as Mamaearth hit a post-money valuation of US$730 million.
Dive deeper:
- Founded in 2016 by husband-and-wife duo Varun and Ghazal Alagh, Mamaearth offers completely toxin-free and natural skincare, haircare, and babycare products. The direct-to-consumer brand uses an internet-first approach to reach millennial consumers, who are its target audience.
- In January 2020, the Sequoia India-backed company raised US$18.2 million to launch more brands, hire new talent, and expand into key markets in Southeast Asia.
Editing by Collin Furtado and Arpit Nayak
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