Soothe Healthcare Raises INR 100 Cr In Extended Series C Round
Soothe Healthcare, a homegrown personal hygiene company, announced on Wednesday completed an investment of INR 100 crore in an extended Series C round led by Gulf Islamic Investments (GII), Northern Arc, and KKR-backed Incred.
With this additional round, the company’s total funding stands at a rewarding INR 230 crore, including a recent INR 130 crore Series C funding from leading PE fund A91 Partners. The latest transaction includes a secondary with Sixth Sense Ventures selling a partial stake to GII.
Soothe Healthcare will utilize the funds to aggressively fuel its growth plans including expansion of manufacturing capabilities, investment in best-in-class machinery to accelerate contribution to the Make in India initiative, as well as investments in marketing and distribution.
We are focussed, aggressive and passionate in becoming a trusted personal hygiene brand and a leading player in the hygiene industry. The series of back-to-back funding will fuel our vision to bring research-based, quality personal hygiene products that positively impact the life of our community. We are looking at expanding our in-house manufacturing facilities using the best-in-class machines. We will also use the funds for marketing and distribution purposes, scaling production and launching innovative new products,” said Sahil Dharia, founder and chief executive officer, Soothe Healthcare.
Soothe Healthcare’s portfolio of innovative and disruptive feminine hygiene products - including its flagship brand Paree sanitary pads and recently launched baby diapers Super Cute’s - has grown over twofold in the last 12 months despite the current pandemic. It has established itself as an omnichannel company leveraging both offline and D2C capability - deep distribution channels throughout India, modern trade, hypermarket stores and an online presence.
“We are excited to invest in a homegrown champion and category leader such as Soothe and work alongside Sahil Dharia and his team to increase the accessibility of feminine and disposable hygiene products across India. As a socially conscious investor, GII recognizes the underpenetrated personal hygiene market in India; a country with one of the world’s highest women and infant populations in the world, many of whom lag behind their global peers in the usage and adoption of personal and disposable hygiene products. Through the “Made in India” initiative, Soothe has achieved advantageous brand positioning of its flagship feminine hygiene offering ‘Paree’ which is set to score multi-fold growth in the coming years. We look forward to leveraging investment from our latest IGP II and working together with current investors Sixth Sense Ventures, Symphony, and A91 partners to advance Soothe's remarkable growth journey and make a significant difference in the lives of women and girls in India,” shared Mohammed Alhassan and Pankaj Gupta, co-chief executive officers, GII, in a joint statement.
The brand positions itself as a homegrown domestic leader in the feminine care category, using advanced technology and in-depth research to develop products that cater to its consumer’s needs.
“We are delighted to partner with Soothe as an early lender to fund a business meeting feminine hygiene requirements across the country. It aligns well with our focus on supporting businesses and products that benefit women customers,” Bama Balakrishnan, chief operating officer, Northern Arc.
The young company has raised several rounds of investments from leading foreign institutional and domestic investors including London-listed investment company, Symphony International Holdings Ltd. and Mumbai-based consumer fund, Sixth Sense Ventures, A91 Partners amongst other backers.