Beauty startup Vanity Wagon said it has raised around $2 million in pre-Series funding at a valuation of $8 million. Coled by Agility Ventures Partners and Lotus Herbals Private Limited, the round saw participation from Inflection Point Ventures, Venture Catalysts, and other high-net-worth individuals (HNIs).

The Delhi-based startup will utilise the funds to strengthen its market position, invest in brand building, grow the private label portfolio, offline retail, technology, and marketing and sales-driven strategies. Launched in 2018 by Naina Ruhail, Prateek Ruhail, and Sahil Shrestha, Vanity Wagon claims to be an information-oriented clean beauty ecosystem in India.

“Our vision is to build a sustainable and legacy brand in the beauty segment which will be strengthened by this investment. Furthermore, our strategy to go omnichannel, co-own clean beauty brands, and expand internationally will be achieved through this investment.” Last year, the startup raised $1 million in the previous seed funding round.

“Vanity Wagon allows investors an opportunity to be a part of one of the fastest-growing industries – beauty. The industry has seen several unicorns and companies that have outgrown the market constantly, and still, the market continues to grow. This signifies a strong future for not only beauty but for commerce as a whole,” said Dhianu Das, cofounder of Agility Ventures. Vanity Wagon said it aims to be a Rs 500-crore company in the next two years.