Period care startup Lemme be secures Rs 13.5 crore as funding from Multiply Ventures and others
- ByStartupStory | June 30, 2022
A period care company called Lemme Be has received $13.5 million, including $2 million in debt and $11.5 million in a Pre-Series A investment. Multiply Ventures, Wami Capital, Sattva Family Office, Anicut Capital AIF, and Grip Investment took the lead in the Pre-Series A fundraising round. The firm got $5 million in venture capital at the beginning of the year and plans to end the fiscal year with a turnover of $30 crore. The firm will use some of the money on research and the creation of new products, as well as expanding its operations to nations including Dubai, the US, and Australia.
Devidutta Dash, CEO and Founder of Lemme Be said, “We’ll utilise the money to improve both our short- and long-term plans and the company will also utilise the money to expand its marketing department and hire more personnel to support channels. Period care as a category in India lacks glamour, research, and open dialogue and has not been able to induce a habit change for users to more sustainable solutions.”
In order to provide menstruators with a secure platform in which they may express their period journeys and curate special solutions for special issue statements, she said the firm was continually connecting with menstruators. The period space, in the opinion of Sanjay Ramakrishnan, Partner at Multiply Ventures, has been neglected for too long. Period care must be rethought. Consumers must be catered to very early in their period journey, and it must be sustainable.
Vinod Abrol, chief operating officer and chief financial officer of Lemme Be stated, “our concentration on the Indian market has been witnessing positive results, enabling us to break even at scale in the next 12 months.”
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