Gurugram-based personal care brand Mamaearth has raised around ₹130 crores ($18 million) in a round led by Sequoia Capital India, reported Inc42. Other investors that participated in the round include Fireside Ventures, Stellaris Venture Partners and Sharp Ventures.
The funds raised will be used to launch more brands, expand to Southeast Asia and strengthen presence across tier II markets.
With the latest funding, Mamaearth has raised a total of $23.3 million across multiple funding rounds since inception.
Earlier in September 2018, Mamaearth had raised ₹29 crores in Series A round led by Stellaris Ventures.
Founded by a husband-wife duo Varun and Gazal Alagh in 2016, Mamaearth offers baby care products which are safe and toxin-free. The brand claims to be Asia’s first brand with made safe certified products. Complementing its online platform, the brand has over 2,000 stores spread across the country. Mamaearth is also looking to clock a run-rate of over ₹100 crores this financial year.
According to a report by ResearchandMarkets, Indian baby care market is projected to grow at 10.1% CAGR during 2018-2024. This growth is expected to be driven by the rising awareness among young parents regarding baby care products and growth of the ecommerce industry.