Gurugram-based toilet hygiene startup PeeSafe has raised $1 million via Compulsory Convertible Debentures (CCD) notes both from its existing and a clutch of new investors.
The new investors include, Shivani Singh (VP Star TV), Rahul Maroli (VP Ola Cabs), Shekhar Agarwal (Amar Securities), Mitesh Shah (CFO BookMyShow), Siddhartha Banka, and Manoj Bengani, among others.
PeeSafe will use the latest proceeds to accelerate its growth by expanding into international markets of US and South Africa. PeeSafe USA and PeeSafe South Africa will be launched in April while PeeSafe GCC (Gulf Cooperation Council) may go live by next month, reports ET.
Last year, the startup had raised the same amount of funding in its pre-Series A round from Mumbai-based Venture Catalysts, Detroit-Rome-Zurich-Mumbai-based Alfa Capital, Green Shots Capital, and Real Time Ventures.
Founded by the husband-wife duo of Srijana and Vikas Bagaria in 2015, PeeSafe is now a global brand in toilet seat hygiene with additional products like GymSafe, MoskitoSafe and PalmSafe launched recently for India and international markets like Australia, Nigeria, Kenya, and Singapore.
Its flagship product PeeSafe is a portable toilet seat sanitizer spray that can be used almost anywhere be it any public washroom or at home. It is a clinical approved isopropyl alcohol-based toilet seat sanitizer in the form of a quick-drying aerosol. The firm claims to have sold 500,000 units since its inception.
According to the company, it has a presence in more than 1,000 pharmacy chains, e-commerce sites as well as general stores. The global hygiene startup is also in advance talks to raise $5 million round from family offices by March this year.
As per different industry studies, revenue in the Feminine Hygiene segment expects to touch $41 million in 2018. The market is expected to grow annually by 5.4 per cent (CAGR 2018-2021).