Baby and mother care brand, Mamaearth has raised $50 million in a round led by Belgian investment fund Sofina in participation with existing backer Sequoia Capital.
According to the company, Fireside Ventures, Stellaris Venture Partners, Sharp Ventures and Titan Capital sold a portion of their stake in the round and it has reached the post-money valuation of $730 million.
Last week, Entrackr had exclusively reported about Mamaearth’s new round in which it scooped up $27 million in the first tranche.
The fresh proceeds raised by the Bengaluru-based company will be deployed to expand its offline presence and a significant portion will also be used for acquisitions.
Founded by husband-wife duo Varun and Ghazal Alagh, Mamaearth has emerged as one of the top D2C brands in India. The five-year-old company claims to have clocked total sales of around Rs 500 crore in the previous financial year and it further targets a two-fold jump in sales in FY22.
Mamaearth competes with The Moms Co, Sugar Cosmetic and many other brands in the baby-mother care segment and personal hygiene space.
