Vanity Wagon raises Rs. 5.5 Cr in pre-Series A funding
Vanity wagon recently announced that it raised Rs. 5.5 crore in a pre-Series A round of funding led by Inflection Point Ventures. The round also saw participation from Venture Catalysts, Lotus Herbals, and existing investors Agility Ventures and a clutch of investors.
The company plans to use the capital raised to strengthen their tech platform, invest in marketing and brand building, talent and private label acquisitions. They also plan to expand their market globally.
Vanity Wagon co-founder and CEO Prateek Ruhail said, “The beauty segment has been taken by a storm of clean beauty. This is driven by consumers’ demand to consume non-toxic beauty and personal care products. As brands in this segment continue to show robust growth, we see Vanity Wagon becoming a dominant marketplace in the clean beauty market in the next two to three years.”
Vanity Wagon was founded by Prateek Ruhail, Naina Ruhail and Sahil Shrestha in 2018. The company’s platform caters to the niche subset of Clean Beauty and has over 151 brands in its repertoire.
Commenting about the investment, Inflection Point Ventures co-founder Mitesh Shah said, “Modern age definition of beauty has moved far beyond fair skin. New-age brands are constantly challenging this norm and we have seen that many made-in-India beauty brands have proven that new-age women are looking for high efficacy products which are cruelty-free. Vanity Wagon’s growth has been exponential and the boom in D2C and online commerce in the beauty sector is going to empower the next level of growth for the company.”
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