Online baby and mother care brand Mamaearth’s parent entity Honasa has secured Rs 130 crore in a Series B funding round led by Sequoia India. Existing investors Fireside Ventures, Stellaris Venture Partners, and Sharp Ventures also participated.
The Bengaluru-based startup will deploy the new proceeds towards expanding its offline presence and sprucing up technology and marketing verticals. A part of the fresh investment will also be used to enter Southeast Asia markets, said an Economic Times report.
The fresh capital infusion for Mamaearth has come after more than a year. Previously, it had raised $4 million in its Series A round led by Stellaris Ventures and Fireside Ventures. It also bagged $250,000 from Bollywood actress Shilpa Shetty Kundra in April 2018.
Led by husband and wife duo Varun and Ghazal Alagh, Mamaearth offers baby and mom care product including certified toxin-free body lotions, rash creams, hair shampoo, body wash, diaper rash cream among others which cater to infants, mothers as well as children of up to five years.
It has a strong offline presence with its product portfolio on the shelves of more than 2,000 stores. Mamaearth also leverages e-commerce platforms including Amazon India, Flipkart, Nykaa, BabyChakra, BigBasket, and FirstCry for distribution.
On the competition front, Mamaearth majorly competes with Marico, The Moms Co, and Lotus Herbals.