Mamaearth, a mother and child care products, has raised Rs 130 crore led by Sequoia India with participation from existing investors Fireside Ventures, Stellaris Venture Partners, and Sharp Ventures. The company was founded by Ghazal Alagh, and Varun Alagh in 2016.
The company will utilize these funds to continue its growth building it into a Rs 500 crore brand by acquiring five million new consumers in the next three years. It will also be utilised to launch more brands under the Honasa umbrella all of which will be focused on the needs of the new-age, millennial consumers.
In a media statement, Varun Alagh, Founder and CEO, Mamaearth, says, “We have a long way to go at Honasa (Mamaearth’s parent company). Our vision is to create the FMCG conglomerate of the future by building brands that connect strongly with millennials and Gen Z customers using the combined power of digital marketing and ecommerce at large scale. Sequoia India’s investment at this stage of our journey validates this vision of building a global brand of the future.”
MamaEarth has over 80 natural and toxin-free products, with over 1.5 million consumers in more than 500 cities across India.
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