D2C Brand Mamaearth marks entry to the unicorn club post funding round worth $38 million
- ByTejika Bajaj | December 30, 2021
Honasa Consumer, the parent company which operates the D2C baby and mother care startup Mamaearth has recently raised $38 million through its latest round of funding led by Sequoia Capital.
With the latest infusion of capital, the post money valuation of the brand has surged to $1.07 billion thus making it a new entrant to the coveted unicorn club. The baby and mother care company has become the 43rd startup to join the unicorn club in 2021 and is one of the few unicorns to have a female co-founder.
The regulatory filings of the company reveal that the D2C brand has approved the allotment of 839 Series F preference shares at an issue price of Rs 33,85,049 to raise around $38 million.
In July 2021, Mamaearth had secured $50 million in a funding round led by Sofina Ventures. This round had pushed the company’s valuation to $730 million.
Founded in 2016 by the husband and wife duo of Ghazal and Varun Alagh, Mamaearth is one of the fastest-growing brands in India’s FMCG sector. It has grown to 140-odd SKUs in baby care, skincare, and haircare segments, and has served more than five million consumers across 500 cities. The Gurugram-based startup crossed an annual revenue run rate of $100 million (Rs 700 crore) in the financial year 2021.
This announcement comes just a couple of days after the Gurugram based mothercare brand acquired parenting content platform Momspresso and associated influencer marketing platform, Momspresso MyMoney for an undisclosed amount.
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