Mamaearth Secured a Funding worth 130 crores

Team StartupcityNews about the quality products being manufactured by Mamaearth has been doing the rounds. With its superior quality of skin & hair care, and baby care products the company has wooed the large populace immensely.

The company made news when it raised a funding of INR 130 crores in funding led by Sequoia India. The funding also witnessed the participation of top existing investors such Fireside Ventures, Stellaris Venture Partners and Sharp Ventures.
Varun and Ghazal Alagh, the founders of MamaEarth addressed the media with this huge news. They also threw light on the plans to use the freshly acquired funds over the next three years. This investment will be implemented to continue the growth of the company, making it a Rs 500 crore brand by acquiring five million new consumers. The funds will also be used to launch more brands under the Honasa umbrella- the parent company of personal care brand Mamaearth, all of which will be internet-first and focused on the needs of millennial consumers.

The company plans to utilise the funds to hire talent as the organization scales rapidly. It also plans to expand into key markets in Southeast Asia.
Mamaearth founder and CEO Varun Alagh said, "Our vision is to create the FMCG conglomerate of the future by building brands that connect strongly with millennials and Gen Z customers using the combined power of digital marketing and e-commerce at large scale."

Mamaearth, with a Rs 100 crore run-rate, has over 80 products in its portfolio with more than 1.5 million consumers in over 500 cities across India.