Wellness brand, The Moms Co. on Tuesday said it has raised $8 million as part of its Series B funding, led by existing investors DSG Partners and Saama Capital.
The round also saw participation from other angel investors including founders of Beardo, Ashutosh Valani and Priyank Shah.
With this funding, the company aims to reach 5 million consumers and touch ₹100 crore in revenue run rate. The three-year-old brand also looks to add newer products to its natural, toxin-free products range, as well as expand into newer retail formats. It will also deploy the fresh funds to bolster technology, and launch the brand internationally.
“Over the last few months, we have seen moms re-evaluate their choices when it comes to the personal care products they use. With this fundraise, we continue our purpose of helping moms with natural effective solutions and are looking forward to expanding our mission with the next 5 million mom customers,” said Malika Sadani, founder and CEO, The Moms Co.
Based in New Delhi, the startup provides products for prenatal, postnatal care, mom personal care and baby care. The company has also diversified its offerings across categories of skincare, hair care, and others, with over 30 SKUs in a matter of three years.
The Moms Co. now delivers to over 15,000 pin codes and has a physical presence in five cities across India. It currently reaches out to over 1 million customers.
“We’re excited to continue supporting the team. In particular, we are very impressed at how Malika and her team have built the brand in a very capital efficient manner. Despite Covid-19, the company is on track to be one of the fastest-growing brands to get to a ₹100 crore run rate in the last few years. We continue to be excited to be part of this journey,” said existing investors Saama Capital and DSG Partners in a joint statement.
In January, this year, online baby care brand, Mamaearth also raised ₹130 crore (about $18.14 million) in a round led by Sequoia Capital India. Existing investors Fireside Ventures, Stellaris Venture Partners and Sharp Ventures also participated in the round.
