Mamaearth eyes funding of ₹500 crores to ₹750 crores at valuation of ₹2600-₹3000 crores.
Sequoia India Capital and FireSide and re-invest in MamaEarth seeing its performance in this round.
Yes the online direct consumer brand and personal care brand mama earth has raised ₹500 -₹750 crore rupees from their existing investor at the valuation of ₹2600 crores to ₹3600 crores.
Sequoia capital and fireside ventures might be leading this round.
The investor of Mamaearth are bullish about the company's growth. The five year old company is backed by the investors including Sequoia India, Stellaris ventures, Fireside ventures, Marco's Rishabh mariwala, Snapdeal founder Kunal bahl and Rohit Bansal and even actress Shilpa Shetty Kundra.
Varun Alagh is Co-founder of Mama earth and he began his journey with focus on baby care products but has a pivotal to become a personal care brand. Though the company sells mostly through online channels it has some selective physical presence in cities like Delhi, Chennai, Kolkata, Mumbai, Nagpur and Pune.
According to one of the company's investor of mama earth was expected to close the financial year 2021 with around 300-350 crores rupees in revenue compared with 109 crore revenue the year before.
Mama earth sales more than 18 natural toxin free products including them based baby wipes lotion and face marks it competes with companies like Nykaa, My Glamm, Sugar, Cosmetics Purplle, Plum, Cosmetics and more.
Company is expected to grow more than 2.5 to 3 times for the financial year ended 31, 2021.
Source :The Economic Times
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