Kul Bhushan · · 1 min readSequoia-backed Indian beauty firm seeks $3b valuation in 2023 listing
Mamaearth, an India-based beauty and babycare brand, is targeting a US$3 billion valuation from a public listing next year, sources told Reuters.
The startup, which was valued at US$1.2 billion in January, is also planning to raise US$300 million from the IPO and may file the draft papers for the move by the end of this year, the report added.
An Entrackr report in May said that Mamaearth was aiming to make its stock market debut by mid-2023, much earlier than its initial two- to three-year plan.
Founded in 2016 by Varun Alagh and Ghazal Alagh, Mamaearth operates in India, Nepal, Bangladesh, and Sri Lanka. The company offers a range of self-branded “toxin-free” products for the hair, face, and body as well as for babies.
In January, it had raised US$52 million from Sequoia, Sofina Ventures SA, and Evolvence.
See also: The leading Asian tech players eyeing an IPO in 2022 and beyond
Editing by Samreen Ahmad and Eileen C. Ang
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