Mamaearth Secured a Funding worth 130 crores
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.
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.