Thu. Mar 28th, 2024

Gurugram-based mother and baby care brand Mamaearth has raised ₹29 crores ($4 million) in series A funding led by Stellaris Ventures, along with existing investor Fireside Ventures.

Other investors that participated in the round include Marico’s Mariwala family office managed by Rishabh Mariwala, along with existing angel investors Kunal Bahl and Rohit Bansal, co-founders of Snapdeal.

The fresh funds will be used to team expansion, scaling offline presence, strengthening product portfolio, investing in further research and development, and building brand awareness.

Mamaearth was founded by a husband-wife duo, Varun and Ghazal Alagh in 2016. It sells various baby and mother care products through its platform along with other online channels including Flipkart, Amazon, Nykaa, and Firstcry, among many others. The brand also offers personal care products for men.

“Digital first brands are creating immense value globally. With the e-commerce ecosystem maturing in India, we feel the time is right for Indian brands to achieve the same,” said Rahul Chowdhri, partner, Stellaris Venture Partners.

The brand has a presence in about 500 touch points and is looking to expand to over 5,000 stores by next year, as it is focusing on offline expansion.

Mamaearth sells around 50,000 products every month, across all categories, with more than 80% of the sales generated through the online channels. It aims to grow order volumes to 150,000 units per month over the next year, as it expects the offline channels to contribute 50% of those sales in the coming three years.

Along with the offline expansion, the brand is looking to expand product portfolio as it plans to launch 20 products across different categories.

Mamaearth claims to have touched the annualised revenue run rate of more than ₹15 crores as of August and is looking to cross ₹100 crores in revenue run rate by the year 2021.

The brand last raised $250,000 from Indian actor and entrepreneur Shilpa Shetty Kundra in April 2018.

Other players competing with Mamaearth in the mother and baby care segment include Patanjali, Mothercare, Johnson’s & Johnson’s, and Dabur.

By Varun

Startups | Books | Ideas

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