Mamaearth

Baby care startup MamaEarth raises $1 Mn from Fireside Ventures

Mamaearth

Delhi-based MamaEarth, an online baby care products startup, has raised $1 million from existing investors Fireside Ventures, along with other VC’s.

The startup would spend the money for offline expansion, customer acquisition and executing a range of 15 innovative baby products, which are in the pipeline for next two-quarters, reports ET.

The startup, which claims to have already garnered 30,000 customers in more than 100 cities in India, aims to reach out to at least 10,000 consumers in 2017.

Owned and operated by Honasa Consumer Pvt. Ltd, MamaEarth was founded in 2016 by a husband and wife duo Varun and Ghazal Alagh.

The startup’s product portfolio includes certified toxin-free body lotions, rash creams, hair-shampoo, body wash, diaper rash cream, massage oil, all-natural bug sprays and sunscreen lotion, which cater to infants as well as children of up to five years.

“Young mothers are already our target group, but in longer term we will look at extending the lifetime value of this relationship by entering into the kids segment of 5-10 years,” said founder Alagh.

The company sells its products only through Amazon India and FirstCry.com, focuses on reducing parenting stress and will soon have an array of product offerings for lactation, stress relief and postpartum weight-loss for new mothers.


Also Read: The Moms Co raises $1 Mn Series A round from Saama Capital and DSG


Last December, the MamaEarth had raised an undisclosed amount in seed funding led by Fireside, besides a clutch of high-net-worth individuals.

Based on early sales and responses, the startup estimates the market for toxin-free or natural mother and baby wellness products to be worth around $10 billion globally and $250 million in India in the next five years.

According to an industry estimate, the baby Care market in India is expected to grow significantly at a CAGR of around 17 percent in terms of revenue over the period 2014-2019.

MamaEarth: Website

Mamaearth

Baby care startup MamaEarth raises $1 Mn from Fireside Ventures

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Below is the bank details:

 
Amount: INR 3,19, 000 (After Adding 18% GST and Deducting 2% TDS)
Bank Name: ICICI Bank
Account Type: Current
Account Name: Bareback Media Private Limited
Account Number: 002105023595
IFSC Code: ICIC0000021
 
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