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Honasa Consumer, which owns and operates Mamaearth, on Thursday, reported a net profit of Rs 30.4 crore for the quarter ended March 2024. The company posted a loss of Rs 161.7 crore in the last year quarter.
The round saw participation from T-Hub Foundation and existing investor Kalaari Capital. The fresh capital infusion will help the 2021-founded startups product development, market expansion, and enhancement of its artificial intelligence (AI) systems.
The finance committee of the board of directors of the company has approved the allotment of NCDs with a face value of Rs 1,00,000 each, totalling Rs 150 crore through private placement, the regulatory filing showed.
Canvas latest offering can help businesses create company-wide design templates for their brands, keep their intellectual property (IP) safe, and provide greater control over their visual products.
Effecting a management rejig after the appointment of new chief executive Srinivas Pallia, the company had announced some incremental organisational changes last week, as reported by ET earlier. The firm had said Sarat, the current Wipro-Benelux MD, would lead Northern Europe.