Arata Raises $ 1 Million In Pre-Series A To Scale Operations
The investors included Nikhil Vora (Founder and CEO of Sixth Sense Ventures), DSG Consumer Partners, Rohan Vaziralli, Founders and Angels. The brand plans to use the raised funds to create brand awareness, for R&D and new product launches.
New Delhi, November 18, 2020: Home-grown personal care brand Arata has raised $ 1 million in Pre-Series A from Nikhil Vora (Founder and CEO of Sixth Sense Ventures) and Rohan Vaziralli. Existing investors include DSG Consumer Partners, along with promoters also participated in this round. The digitally native brand plans to deploy the raised funds to create brand awareness, R&D, new product launches while fuelling marketing and building inventory to cater to drastically increasing demand. Dexter Capital Advisors were the exclusive financial advisors to Arata.
Launched in February 2018, Arata is a community-led lifestyle brand with an entire ecosystem built around the core philosophy of clean formulations, responsible practices, and sustainability. The company sells all-natural, plant-based, vegan, and chemical-free unisex skin and hair care products. Arata has been selling its products online across various marketplaces, including Amazon, Nykaa, etc., as well as on its website with over 100,000 customers across India.
Nikhil Vora, Founder & CEO, Sixth Sense Ventures said, "One of the biggest themes to play out in India is wellness in everything that a future consumer will look out for. Arata can potentially be a path breaker here with its ethos lying in 100% natural, plant-based, chemical-free products, which are good for all. I believe that in a cluttered personal care category, they have cracked the right code. Beyond the product proposition, I am delighted to be part of the exciting journey of the passionate founder duo and do believe that an early mover in this space will be extremely valuable."
On consumer behaviour and the fundraise, Dhruv Bhasin and Dhruv Madhok, Co-Founders of Arata, said, “Our revenues have grown 2x in the past seven months. Consumers today speak the language of sustainability, inclusivity, honesty, and transparency. They are forming new habit patterns and are choosing responsible brands that are not only healthy and effective but also have a positive impact on the environment. The fundraise will help us scale as we aim to become a global voice with our unique product offering.”
Founded by Dhruv Madhok, former strategy consultant in the US and UAE, and Dhruv Bhasin, former finance executive in the UK and India the brand raised raised INR 3.5 crore in a seed round led by DSG Consumer Partners. Utsav Somani of AngelList India and Dr. Rajan Raghavachari earlier in January 2019. Arata is on track to achieve an ARR of INR 20 crores by March 2021.