Honasa, the parent company of personal care brand Mamaearth has raised Rs 130 crore to fuel its expansion plans in a Series-B funding round led by Sequoia India while Fireside Ventures, Stellaris Venture Partners and Sharp Ventures were the other investors who participated.
Varun Alagh, co-founder of Mamaearth said, “We are looking forward to launching more brands for millennials under Honasa to grow strongly in the next three years. We plan to replicate our online model in other countries which have a millennial presence and also strengthen our presence in tier-II markets. With this funding, we will also be looking at Southeast Asia markets.”
Mamaearth, founded in 2016 by Varun and Ghazal Alagh, aims to clock over Rs 100 crore in run-rate this financial year. Its parent company Honasa has raised Rs 162 crore since inception.
Ghazal Alagh, while talking to the press said, “Although the market has evolved, for internet-first consumer brands digital influence works similarly across geographies through social network advertisements. Mamaearth also has an offline presence in the country through almost 2,000 stores. The brand aims to create experiential buys through its presence in these stores.”
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