Mamaearth basically known for skin care product has raised $18.4 million from Sequoia Capital India. Bollywood celebrity – Shilpa Shetty Kundra had also invested in 2018. The founder of Mamaearth are Varun and Ghazal Alagh.
The company will use the money to acquire 5 million new customers and launch more internet-first and millennial consumer brands, to build a ₹500-crore brand by 2023.
“Out of India’s $15B+ personal care market, online channels contribute to only 3-5%. With 15-20% of Indian shoppers influenced digitally and expected to double in next 7-8 years, digital first brands have the potential to redefine the architecture of tomorrow’s FMCG companies,” said Ishan Mittal, principal, Sequoia Capital.
Mamaearth has launched some new products in the Ecom market like
Skin Correct Face Serum with Niacinamide and Ginger Extract for Acne Marks & Scars – 30 ml.
Tea Tree Anti-Dandruff Hair Regime Kit.
Skin Plump Serum For Face Glow, with Hyaluronic Acid & Rosehip Oil for Ageless Skin – 30ml.
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