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babycare startup Mamaearth gets Equity Backing From Shilpa Shetty

Franchise India Bureau
Franchise India Bureau Apr 20 2018 - 1 min read
babycare startup Mamaearth gets Equity Backing From Shilpa Shetty
It claims to have more than 1 lakh customers and aims to more than double that number by the end of this year.

In its third round of external funding, baby care products startup mamaearth has raised an undisclosed amount in equity investment from Bollywood actress and entrepreneur Shilpa Shetty Kundra.

Founded in 2016 by husband-and-wife duo Varun and Ghazal Alagh, the startup’s product portfolio includes toxin-free body lotions, rash creams, shampoo, body wash, massage oil, and bug sprays for children up to the age of five years.

The baby care startup which is owned and operated by Honasa Consumer Pvt. Ltd also offers non-preservative products for lactation, stress relief and postpartum weight loss for expecting and new mothers.

Shilpa Shetty Kundra said in a statement that the natural and chemical-free nature of the products had contributed to her decision to back mamaearth.in.

The startup has chosen online platforms such as Amazon, FirstCry, Nykaa, Flipkart, Paytm as well as its own website.

It claims to have more than 1 lakh customers and aims to more than double that number by the end of this year.

More than 90% of Mamaearth’s sales take place through online channels. Its products are available at more than 300 stores across Delhi, Mumbai and Bengaluru and the firm plans to expand to 10 cities.

The company had last September raised $1 million (Rs 6.5 crore) in its second round of funding led by Fireside Ventures and other investors.

In December 2016, the company had raised an undisclosed amount in seed funding led by Fireside, besides a clutch of high net-worth individuals.

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