Happily Unmarried Marketing, a Delhi-based company which offers personal care products under ‘Happily Unmarried’ and ‘Ustraa’ brands, is reportedly looking to raise a new funding round.
As per the reports, the company is raising fresh funding from Wipro Consumer Care — the personal care arm of Wipro Enterprises, and existing investor Info Edge (India) Ltd. Wipro Consumer Care has confirmed a proposed investment but the deal is yet to go through.
While the financial terms related to the deal remains undisclosed, a Times of India report suggests that the deal worth be worth around ₹50 crore, for around 20 percent stake in the company.
Info Edge, which is an existing investor in the company, said in stock exchange filing that it has invested ₹5 crore in the company’s new round. Its aggregate shareholding following this funding round would be 47.21 percent.
Happily Unmarried was founded in 2003 by Rahul Anand and Rajat Tuli. The company offers personal care products ranging from face and body wash to shaving foam and cologne. While products under the ‘Happily Unmarried’ brand cater to both the sexes, the ‘Ustraa’ line of products is targeted exclusively at men.
In FY16-17, the company registered a 23.75 percent rise in revenues to ₹18.44 crore, up from ₹14.90 crore in the previous year.