Clean beauty marketplace vanity wagon has raised INR 5.5 crores in a Pre-Series A round led by Inflection Point Ventures. The round also witnessed participation from Venture Catalysts, Lotus Herbals, the existing investors – Agility Ventures (led by Mr. Dhianu Das) and a consortium of HNI’s (advised by Instarto).
The funds raised will be used for further strengthening the tech platform, marketing, brand building, team expansion and private label acquisitions. Vanity Wagon also plans to expand in the international market.
“India’s cosmetics market is likely to reach $28.9 billion by 2026. With this, the clean beauty market will also see double the growth. Growing disposable income will lead to the increasing purchasing power of women who are more conscious now and would prefer only non-toxic products which would not harm their skin. As Vanity Wagon is the market leader in organic products, we foresee its growth as a robust marketplace of natural beauty products,” said Dhianu Das, Founder, Agility Ventures.
Mitesh Shah, Co-founder, Inflection Point Ventures said, “Modern age definition of beauty has moved far beyond fair skin. New-age brands are constantly challenging this norm and we have seen that many made-in-India beauty brands have proven that new-age women are looking for high efficacy products which are cruelty-free. Vanity Wagon’s growth has been exponential and the boom in D2C and online commerce in the beauty sector is going to empower the next level of growth for the company.”
Commenting on the investment, Dr. Apoorva Ranjan Sharma, President, and Co-founder, Venture Catalysts, said, “Vanity Wagon is on the right growth trajectory on making its mark in the clean beauty industry with a solid team, a data-driven growth approach, and swift adaptability to the needs of the constantly evolving beauty consumers. We look forward to supporting them in capturing a sizeable quantum in the future of clean-organic personal care market.”
The information-oriented organic beauty marketplace is already associated with brands like Juicy Chemistry, Wow Skin Science, mCaffeine, Mama Earth, Blossom Kochhar Aroma Magic and Minimalist.
Prateek Ruhail, Co-founder & CEO, Vanity Wagon said, “The beauty segment has been taken by a storm of Clean beauty. This is driven by consumers’ demand to consume non-toxic beauty and personal care products. As brands in this segment continue to show robust growth, we see Vanity Wagon becoming a dominant marketplace in the clean beauty market in the next 2-3 years.”
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.