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Digital-first consumer brands platform Honasa, that owns personal care brands like Mamaearth, on Saturday said it has raised $52 million led by Sequoia, becoming the first Indian unicorn of 2022.
Mumbai, Jan 1: Personal care-focused e-commerce platform Honasa Consumer, which sells its products under the labels of Mamaearth, The Derma Co and House of Brands, on Saturday said it has raised USD 52 million in the latest funding round led by Sequoia, valuing it at USD 1.2 billion, thus becoming the first unicorn in the new year. The new funding round also had participation by Belgium-based investment fund Sofina Ventures and the UAE-based India-focused fund Evolvence Capital, said the Gururam-based […]
D2C brand Mamaearth is the new entrant to the unicorn club after closing a fresh round of funding worth $38 million from Sequoia Capital.
Nearly two D2C brands have raised money every week since the pandemic started last year . That's 146 firms cumulatively raising $500 million since the start of 2020, almost equalling the amount raised by them in the previous five years.
ETtech Illustration: Rahul Awasthi Mamaearth has closed a $50 million funding round led by Belgian investment fund Sofina, valuing the direct-to-consumer (D2C) personal care brand at $730 million, one of the most valued new-age D2C brands in the country. Existing investor Sequoia Capital also participated in the round, while early investors Fireside Ventures, Stellaris Venture Partners, Sharp Ventures and Titan Capital sold some stakes in a secondary transaction, the company said. In a secondary share sale, the money does not flow into the company directly but goes to investors selling their ...