Baby and Mother Care Brand Mother Sparsh raises INR 20 crore led by ITC
Mother Sparsh, a premium ayurvedic and natural, baby and mother care brand, has raised Rs 20 crore in Series A funding from ITC, one of India's largest private-sector corporations with a diverse footprint across numerous industries, including FMCG, hotels, agri-business, and packaging, among others. ITC plans to purchase 16 percent of Mother Sparsh's share capital. The money will be used to improve the company's R&D skills, digital capabilities, drive new product launches, and expand the staff.
“We are elated to be associated with a partner like ITC whose ethos compliments our brand vision. ITC is in sync with what we envisioned as the future of Mother Sparsh. We expect to scale up our revenues to Rs 300 crore over the next three to five years,” said Mother Sparsh co-founder and CEO Himanshu.
Mother Sparsh co-founder Rishu added, “ITC’s decision to invest in the company was propelled by the wide portfolio and mix of products, which enabled Mother Sparsh to grow from strength to strength each year. It assumes significance in wake of a multi-fold increase in the website sales clocked by the brand over the past few months. The company at present registers over 85% of its sales through online channels and has over the past 12 months diversified its product portfolio by over 25%.”
Speaking about the investment, Sameer Satpathy, Chief Executive, Personal Care Products Business at ITC said, “We believe that this investment provides an exciting opportunity which is in alignment with our aspiration to have a significant play both in the naturals and ayurvedic segment as well as in the D2C channel. Mother Sparsh has, within a short span of time, evolved into an effective D2C brand with a range of innovative products and a lot of promise.”
Mother Sparsh has created a comprehensive range of infant and mother care products since its start, utilising the wisdom and knowledge of Ayurveda as well as natural ingredients for effective product delivery. With its Brahmi-powered, complete hair care collection, the firm just entered the children's market.
For the fund-raising process, ITI Capital Ltd served as Mother Sparsh's sole financial advisor.
“We are elated to be associated with a partner like ITC whose ethos compliments our brand vision. ITC is in sync with what we envisioned as the future of Mother Sparsh. We expect to scale up our revenues to Rs 300 crore over the next three to five years,” said Mother Sparsh co-founder and CEO Himanshu.
Mother Sparsh co-founder Rishu added, “ITC’s decision to invest in the company was propelled by the wide portfolio and mix of products, which enabled Mother Sparsh to grow from strength to strength each year. It assumes significance in wake of a multi-fold increase in the website sales clocked by the brand over the past few months. The company at present registers over 85% of its sales through online channels and has over the past 12 months diversified its product portfolio by over 25%.”
Speaking about the investment, Sameer Satpathy, Chief Executive, Personal Care Products Business at ITC said, “We believe that this investment provides an exciting opportunity which is in alignment with our aspiration to have a significant play both in the naturals and ayurvedic segment as well as in the D2C channel. Mother Sparsh has, within a short span of time, evolved into an effective D2C brand with a range of innovative products and a lot of promise.”
Mother Sparsh has created a comprehensive range of infant and mother care products since its start, utilising the wisdom and knowledge of Ayurveda as well as natural ingredients for effective product delivery. With its Brahmi-powered, complete hair care collection, the firm just entered the children's market.
For the fund-raising process, ITI Capital Ltd served as Mother Sparsh's sole financial advisor.
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