Personal care brand Mcaffeine raised $15-20 million in new round of funding
- ByStartupStory | March 5, 2022
Pep Technologies, that owns digital-first personal care brand mCaffeine has raised $15-20 million in a new round of funding.
The capital will be used to fuel its organic, expansion plans and also evaluate inorganic growth opportunities, said two people aware of the development. It has received commitments from new investor Singularity AMC and existing institutional backer Amicus Capital, the people cited above said on condition of anonymity. A spokesperson for Singularity confirmed the deal but did not disclose details. Singularity AMC, backed by investor and former Reliance Capital executive Madhusudan Kela, set up Singularity Growth Opportunities Fund-1 (SGOF-I) to provide growth capital to technology-driven companies. mCaffeine is also in advanced talks with a few startups for an acquisition in beauty care, cosmetics and male grooming spaces.
founded by Vikas Lachhwani and Tarun Sharma in October 2016 after 9 months of extensive research. The research yielded that caffeine is basically a superfood – it is a rich source of antioxidants and has several benefits for skin and hair. Thus, caffeine became the primary ingredient in all of their products. mCaffeine has 20 products in its portfolio across three major categories – Face Care, Hair Care and Body Care. The brand embodies the millennial ethos with key principles of: clean label (natural as a choice), why hurt (no animal testing), confidence over colour (don’t sell insecurities or fairness products). mCaffeine has an in-house product research and development team, and has partnered with three third-party manufacturers to make the products.
Back in 2015, I met with an accident and had a sore eye. As we know in India, everybody is a doctor. Someone suggested that I put a brewed but lukewarm green tea bag on my eyes to reduce the puffiness. To my surprise, the puffiness actually went away. I did a bit of research and found out that the caffeine in the green tea had an amazing effect on my swollen eye. Thus, began the story of mCaffeine. Said Tarun Sharma, Co-founder & CEO.
There are about 20 products in the portfolio so far and there are aggressive plans to further launch 15-20 products in the next one year. mCaffeine products are available on all major shopping portals namely – Amazon, Nykaa, Flipkart and it also sells through its own e-commerce portal www.mcaffeine.com. The brand is at present focusing on India with global potential for the future.
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