Mamaearth closes $50 million funding round

CHENNAI: Personal care brand Mamaearth has closed the latest $50 million funding round led by

Sofina Ventures SA

. The round witnessed participation from existing investor Sequoia Capital India too.

Along with primary infusion by the Belgian-based investment company Sofina Ventures SA, the round also saw secondary sale by early investors like Fireside Ventures,

Stellaris Venture Partners

,

Sharp Ventures

and

Titan Capital

. The round also gave some early employees an opportunity to monetize their vested ESOP.

The company plans to deploy the funds to drive brand growth through expanding its offline distribution and explore inorganic growth opportunities in beauty and personal care.

Varun Alagh, co-founder & CEO, Mamaearth said, “This round will help amplify the process and strengthen the D2C and offline expansion of Mamaearth. We will also be exploring inorganic growth opportunities in the beauty and personal care segment.” Added Ghazal Alagh, co-founder and CIO, Mamaearth, “With a toxin-free and natural ingredient proposition, we started Mamaearth in 2016 with our baby care range and soon, on consumer demand, diversified into personal care. We then launched The Derma Co. last year, with a portfolio of science backed skincare products.We have been able to create a portfolio of 140+ products under Mamaearth and 40+ products under The Derma Co.”

Yana Kachurina, investment manager, Sofina Ventures SA, said, “The Mamaearth team is constantly pushing the boundaries in the personal care space through their disruptive innovations, rapid execution pace and focus on delighting customers.”

Ishaan Mittal, principal,

Sequoia India

said, “Mamaearth has itself as a clear market leader in the digital first brands space, by providing consumers a bouquet of toxin-free products."


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