Personal care brand Mamaearth plans to raise between $80 million (Rs 532.2 crore) and $100 million from existing investors in a new funding round, as investors see positive growth prospects.
“The investors are bullish about the company’s growth prospects and would want to double down on their investment,” a source told ET Tech.
The business is looking at a valuation of between $350 million and $400 million for the upcoming investment round, according to ET Tech’s sources.
Mamaearth’s existing investors include Fireside Ventures and Sequoia Capital, which could lead the funding round, according to the sources. Other investors in the business include Bollywood celebrity, Shilpa Shetty Kundra, and Snapdeal founders, Kunal Bahl and Rohit Bansal, among others.
Ghazal and Varun Alagh founded Mamaearth in 2016 with a focus on mother and baby care goods, a fast growing product category. The brand now retails over 80 different products and has expanded its product categories to incorporate a wide range of personal care products such as face masks and lotions.
All Mamaearth products are natural and toxin-free. The brand recently announced that it has partnered with Bollywood celebrity Sara Ali Khan, who will advertise its haircare range in her new role as Mamaearth brand ambassador.
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