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

January 3, 2022 | News, Venture Capital
https://dailyalts.com/wp-content/uploads/2022/01/mamaearth-honasa-consumer.jpg

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

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Shape

Latest Alternative Investment News

https://dailyalts.com/wp-content/uploads/2023/05/denis-arslanbekov-b-eGDk5_gPo-unsplash.jpg
Digital Assets: Tether Invests In CityPay, A Georgian Payments Processor
May 31, 2023     Digital Assets, FinTech, News

Tether Operations Limited (Tether), the company behind the widely used stablecoin USDT, has announced an increased presence in Georgia with an investment in CityPay.io, a payment processing company operating in…

https://dailyalts.com/wp-content/uploads/2023/05/wayoming.png
Venture Capital: Carbon Removal Platform CUR8 Scores £5.3M (US$6.6M) Pre-Seed Funding

CUR8 is a company founded by Marta Krupinska, Dr Gabrielle Walker, and Mark Stevenson, with the aim of becoming the market maker for carbon removals. The company recognizes the importance…

https://dailyalts.com/wp-content/uploads/2023/05/haidan-Ko0Dpd1MOJY-unsplash.jpg
FinTech: Saudi Central Bank (SAMA) Boosts FinTech, Issues BNPL Licenses
May 31, 2023     FinTech, News

The Central Bank of Saudi Arabia, known as SAMA, has granted Riyadh start-up Madfu and Spotii, which is owned by Zip, licenses to offer Buy Now Pay Later (BNPL) services….

https://dailyalts.com/wp-content/uploads/2023/05/ehimetalor-akhere-unuabona-1gGghJ1H9nc-unsplash.jpg
Artificial Intelligence: Tech Luminaries Issue Letter Warning Of Extinction Risk From AI

Prominent computer scientists and tech CEOs have issued a warning about the potential “risk of extinction” posed by artificial intelligence (AI). They stress the importance of addressing this risk globally,…