Venture Catalysts & Others invests $145,000 in Clean Personal Care Brand Switch Fix
Venture Catalysts, 9Unicorns, and Kushal Khandwala, Director of KIFS Group led a seed round for Gurugram based startup Switch Fix, which offers specialised plant-based products that are sustainable. According to the press release, Venture Catalysts has invested $145,000 in this round. The startup says that I will utilize the funds to expand its product range.
Switch Fix, founded by Abhishek Kumar and Rhea Shukla in December 2018, manufactures and sells hygiene products such as soaps, shampoo bars, hair blends, and bamboo toothbrushes. Conditioners, scalp treatments, hair serums, and essential skincare are among its product offerings.
Rhea Shukla, Co-founder and CEO, The Switch Fix, says, “Our journey so far has been made possible due to our customers' desire to lead a sustainable lifestyle. There’s no doubt that sustainability is the future and we’re glad to be stepping into the future with 9Unicorns and Venture Catalysts. With the funds received, we will further grow our tribe of climate warriors and make specialized and sustainable personal care even more accessible.”
Sharing his insights, Abhishek Kumar, Co-founder and COO, The Switch Fix, added, “Most of the growth registered previously has been on the back of organic word-of-mouth from our loyal customers. We’re happy that through the funds acquired in this round, we will be able to add to our range of specialised products, increase awareness around the need to live sustainably and make the switch even simpler.”
Commenting on the investment, Dr. Apoorva Ranjan Sharma, Co-founder and President, Venture Catalysts, said, “The Indian Hair Care Market is currently valued at $ 3.3 billion and is estimated to reach $ 5 billion by 2025, growing at a CAGR of 7 percent - 10 percent during the forecast period (2020 - 2025). Moreover, there is an ever-increasing demand for clean, environmentally-friendly, sustainable hair care products that cater specifically to the needs of Indian consumers. The Switch Fix is well-positioned to turn this high-potential opportunity into tangible success and we are pleased to offer them our support.”
Switch Fix, founded by Abhishek Kumar and Rhea Shukla in December 2018, manufactures and sells hygiene products such as soaps, shampoo bars, hair blends, and bamboo toothbrushes. Conditioners, scalp treatments, hair serums, and essential skincare are among its product offerings.
Rhea Shukla, Co-founder and CEO, The Switch Fix, says, “Our journey so far has been made possible due to our customers' desire to lead a sustainable lifestyle. There’s no doubt that sustainability is the future and we’re glad to be stepping into the future with 9Unicorns and Venture Catalysts. With the funds received, we will further grow our tribe of climate warriors and make specialized and sustainable personal care even more accessible.”
Sharing his insights, Abhishek Kumar, Co-founder and COO, The Switch Fix, added, “Most of the growth registered previously has been on the back of organic word-of-mouth from our loyal customers. We’re happy that through the funds acquired in this round, we will be able to add to our range of specialised products, increase awareness around the need to live sustainably and make the switch even simpler.”
Commenting on the investment, Dr. Apoorva Ranjan Sharma, Co-founder and President, Venture Catalysts, said, “The Indian Hair Care Market is currently valued at $ 3.3 billion and is estimated to reach $ 5 billion by 2025, growing at a CAGR of 7 percent - 10 percent during the forecast period (2020 - 2025). Moreover, there is an ever-increasing demand for clean, environmentally-friendly, sustainable hair care products that cater specifically to the needs of Indian consumers. The Switch Fix is well-positioned to turn this high-potential opportunity into tangible success and we are pleased to offer them our support.”
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