Peebuddy, a product of Sirona, which is a menstrual hygiene product maker, based out of Delhi, has secured an undisclosed amount from Indian Angel Network (IAN) in a bridge-funding round. Existing lead investors like Vikas Kuthiala & Ishan Singh also participated in the latest funding round along with other strategic & HNI investors.
The company plans to leverage the acquired funds to sustain the ongoing marketing and distribution expansion initiatives. The investment comes ahead of the company’s larger fund raise plans of upto $5 million by the end of 2019.
“Ever since we invented India’s First Female Urination Device, PeeBuddy, followed by India’s First Herbal Period Pain Relief Patches, Sirona, in 2015, the acceptance for unique hygiene products among Indian women has increased manifold. We are delighted that our investors share our passion and have continued to demonstrate their faith through their follow-on investments. The latest capital infusion will help us further bolster our position in this space and allow our products to reach a wider population across India,” Deep Bajaj, founder of PeeBuddy, Sirona, said.
Sirona, Delhi-based startup was founded by Deep Bajaj and Mohit Bajaj in 2015. It is menstrual hygiene product brand, providing solutions to feminine hygiene woes and wellness-related problems in India.
This bridge funding comes on the back of the market traction that Sirona has garnered post the introduction of several first-of-their-kind products in India. These include female urination devices, herbal pain relief patches, oxo-degradable disposable bags, anti-chafing creams, and biodegradable pregnancy kits.
“We are fully aligned to Deep’s vision to build a robust, full stack consumer products company in the highly lucrative feminine hygiene space. This is a very exciting business opportunity where Sirona has achieved early leadership to deliver business success,” Vikas Kuthiala, lead IAN investor said.
In its last funding round in March 2017, Sirona had raised ₹2.96 crore from Indian Angel Network.
An online-first company, Sirona’s products are available across its own e-commerce website and leading online marketplaces like Amazon, Flipkart & Nykaa. The company is now planning its foray into multiple cities across India.
Some of the other player in the personal hygiene product market includes Align Technology, Cantel Medical, C. R. Bard, ResMed, Conmed, Integra LifeSciences, etc.