INSUBCONTINENT EXCLUSIVE:
Honasa Consumer's most current financing round was led by SequoiaPersonal care-focused e-commerce platform Honasa Customer, which sells
its products under the labels of Mamaearth, The Derma Co and House of Brands, on Saturday said it has raised $52 million in the most recent
financing round led by Sequoia, valuing it at $1.2 billion, hence becoming the very first unicorn in the new year.The new funding round also
had involvement by Belgium-based investment fund Sofina Ventures and the UAE-based India-focused fund Evolvence Capital, stated the
The business had actually previously raised funds from Fireside Ventures and Stellaris Venture Partners.The round has actually also offered
its workers a chance to monetise their vested ESOPs (worker stock alternative plans)
Honasa prepares to deploy the funds to expand its portfolio of individual care D2C (direct-to-consumer) brands, item innovation, circulation
and marketing, the business said in a statement on Saturday.Recently, it entered the skincare section with Aqualogica, a hydration-based
It also has plans to use the funds for inorganic growth chances in the beauty and personal care segments.Honasa co-founder and Ceo Varun
Alagh said their flagship brand Mamaearth is a leader in the D2C personal care section and The Derma Co is on a course to success
Sequoia, Sofina and Evolvence have distinct strengths in the United States, European and GCC markets, respectively, which will help the firm
grow globally and learn from others in these markets, he said.Honasa co-founder and Chief Investment Officer Ghazal Alagh said, Considering
that millennials' individual care issues are vibrant and with our direct-to-consumer technique, we have actually had the ability to
construct a substantial portfolio of items throughout the child care, skin care, haircare and colour cosmetics under Mamaearth and a
portfolio of over 40 products under The Derma Co
Sequoia India Managing Director Ishaan Mittal stated that as the discovery and intake of FMCG brands are getting more influenced by digital
channels, it is supplying a distinct opportunity to founders to construct brand names of the future
Mamaearth has established itself as a clear market leader in this digital-first durable goods space and Sequoia is delighted to double-down
on the collaboration in this journey
Rohit Batra, handling partner at Evolvence, said he thinks that the GCC (Gulf Cooperation Council) market will be receptive to the Honasa
brand names, particularly Mamaearth, and initial indications have actually been motivating as the company scales in the region.Set up 5
years earlier, Honasa reaches out to over 1,000 cities with its brands like Mamaearth, The Derma Co and Aqualogica
It claims to have cumulatively sold them worth $1 billion
