News Update

Mamaearth is the first unicorn of 2022, raises $52 million at valuation of $1.2 billion

• ByStartupStory     |    January 3, 2022

Honasa Consumer, the parent company of personal care brands such as Mamaearth and The DermaCo, announced on January 1 that it has raised $ 52 million in a $ 1.2 billion round led by Sequoia at the start of  the financial boom. 

 Sofina Ventures SA and Evolvence also participated in this round. This is six months after the company raised $ 50 million in a funding round led by Sofina Ventures and rated it at $ 730 million. 

 “We will use the money to launch the brand, increase sales, grow inorganically and expand the current portfolio across borders,” said Varun Alagh, co-founder and CEO of Honasa Consumer. 

 The company said the round also gave employees the option to sell their employee stock options (ESOP), but specified how much profit they would get or how many would benefit from it. I didn’t. 

 Founded in 2016 by a couple of Valun and Ghazal Alagh, Mamaearth has grown to become one of India’s most popular Newage consumer brands, riding the so-called Direct-to-Consumer (D2C) wave and web branding. Served directly from the site or via Sell. An e-commerce platform for consumers, rather than  the traditional  expensive offline routes. 

 Their products have achieved annual sales of over  500 rupees, one of the few New Age consumer brands out there. The 

  funds will be used to expand the D2C brand portfolio of personal care products. Recently, Aqualogica, a moisturizing skin care brand suitable for Indian skin and tropical weather, was launched. 

 We will also continue to grow sales of Mamaearth and The Derma Co, exploring strategic inorganic growth opportunities in the personal care segment. 

 “Given the scale of Mamaearth and the success of The Derma Co, we are confident that we have the expertise to build a brand that connects with millennials,” said 

 Alagh. “Sequoia, Sofina and Evolvens have unique strengths in the  US, Europe and GCC, helping them grow internationally and learn from others in these markets.” 

 Baby wipes, bamboo bases and more. , Offers over 80 non-toxic natural products. We launched face masks, lotions,  hair care products, and our second brand, Derma Co, in late 2019.

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