Venture Capital: Honasa Consumer Raises Sequoia-Led $37M Series F

The round valued Honasa at over $1 billion, vaulting it into unicorn status.
Honasa Consumer has become the 45th startup to achieve unicorn status this year, when it raised a $37 million Series F round led by venture capital firm Sequoia Capital. The round also had participation by Belgium-based investment fund Sofina Ventures and the UAE-based India-focused fund Evolvence Capital. Honasa (from Honest/Natural/Safe) operates the brand Mamaearth. The brand is endorsed by celebrities from Bollywood. Its other brands include The Derma Co and House of Brands. (Forbes)
Founded by husband-and-wife team of Varun and Ghazal Alagh in 2016, Honasa previously raised $50 million in July. That round was led by Sequoia Capital and Belgium-based investment company Sofina Ventures. The company sells its products in over 1,000 cities in India.
Honasa will use the funds to expand its portfolio of personal care D2C (direct-to-consumer) brands, product innovation, distribution and marketing.
Honasa co-founder and Chief Investment Officer Ghazal Alagh said, “Since millennials’ personal care concerns are dynamic and with our direct-to-consumer approach, we’ve been able to build an extensive portfolio of products across the baby care, skincare, haircare and colour cosmetics under Mamaearth and a portfolio of over 40 products under The Derma Co.”
“Mamaearth has established itself as a clear market leader in this digital-first consumer goods space and Sequoia is delighted to double-down on the partnership in this journey,” said Sequoia India Managing Director Ishaan Mittal.
Related Story: Indian Fantasy Gaming Group Dream Sports Raises $840M

Latest Alternative Investment News

Alternative Investments/Real Estate: The Principal Real Estate Active Opportunities ETF Starts Trading Today
Principal Global Investors has launched today its first semi-transparent ETF focusing on the non-traditional property sectors of the publicly traded U.S. real estate market: The Principal Real Estate Active Opportunities…

Venture Capital: Andreessen Horowitz (a16z) Launches $600M Venture Fund For The ‘Future Of Games’
Andreessen Horowitz (a.k.a. a16z) has launched a $600 million venture fund focused on the games industry and the next generation of games builders. “Long term, we believe games infrastructure and…

FinTech: Block’s Square Acquires GoParrot For Its Restaurant Platform
GoParrot is an all-in-one digital ordering and marketing platform for restaurants. In a Wednesday blog post, Square, which is part of global fintech Block, Inc. (NYSE: SQ), announced its acquisition…

Artificial Intelligence: AI Helps More Accurately Count The Number Of Sea Lice On Salmon
Last week it was reported that a recent study that looked at the state of sea lice in the Pacific Ocean and found that the parasite is increasingly becoming resistant…