Pahadi Goodness Pvt. Ltd., a beauty and wellness company, has raised its first round of funding of Rs. 5 Crores from Mudhra Ventures, promoted by Gunapati Swathi Reddy. According to a statement, the investment proceeds will be used for growth capital including marketing, promotion and new product development.
It said, “Pahadi Local has a fantastic future as it commands a premium positioning and is known for its purity promise, quality of products and sustainable footprint. This investment will allow to ramp up the sales and drive the company towards a very promising future. The current round of funding values the business at ~ INR 30 crores.”
Speaking on the announcement, Swathi Reddy, Managing Partner at Mudhra Ventures, stated, “I believe ‘Make up is a choice but Skincare is essential’. For the last few years, I have been drawn to clean and organic products. I came across Pahadi local last year and absolutely fell in love with the quality. The honesty in the products and the sincerity of the people at Pahadi drew me towards this exciting opportunity. I‘m thrilled to be joining the Pahadi Local family.”
Pahadi Local’s official release added, “We are delighted to have this belief of our journey and the market opportunity from the team at Mudhra Venture led by Swathi Reddy. The investment has come at a time when the market is opening up and our current and new products are seeing great traction.”
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.