Belgium-based Sofina is investing $27 mn in personal consideration brand Mamaearth

Belgium-based Sofina SA will invest around Rs 202 crore ($27 million) in personal consideration brand Mamaearth.

Mamaearth, according to filings to the companies registrar, has effectively secured Rs 147 crore and the excess capital will come in tranches.

In April, VCCircle was the first to report that the brand, worked by Honasa Consumer Pvt Ltd, was in talks with Sofina for a $20-25 million round to work with exits for Fireside Ventures and Stellaris Venture Partners.

An email question to Mamaearth didn’t get any reaction till the time of publishing this report.

The startup was established in 2016 by the husband-spouse couple Varun and Ghazal Alagh. Its portfolio includes body lotions, rash creams, shampoos, body wash, massage oils and baby care products.

Mamaearth says it is building another scope of direct-to-consumer brands using an internet-first way to deal with target main fans.

Mamaearth, according to sources, is also attempting to snap up several smaller startups in personal consideration and wellness classification to make a ‘House of Brands’.

The organization had raised its Series B round in January last year drove by Sequoia Capital India.

The firm had posted net sales of Rs 109.7 crore for fiscal year 2019-20 as against Rs 16.8 crore a year before. It is yet to achieve functional breakeven, according to VCCEdge.

The broader beauty and personal consideration segment has drawn in a slew of investors in the course of recent years.

Early this month, Marico, the creator of Parachute hair oil and Saffola cooking oil, gotten a greater part stake in a D2C personal consideration brand.

In June, VCCircle announced that funding firm and development value investor Sequoia Capital is considering investing in a beauty brand trying to capitalize on the frenzy for D2C brands among millennials.

In April, VCCircle announced that US-based cosmetics producer Estée Lauder is in talks to assume responsibility for a local personal consideration brand in which it owns a minority stake.

In February, local private value firm ChrysCapital was accounted for to be in discussions to invest in a rumored skin care and wellness brand.

The same month, Scentials Beauty Care and Wellness raised $6 million from nearby buyout store TIW Private Equity.

Before that, SUGAR Cosmetics raised $21 million (Rs 153 crore) in its Series C subsidizing round drove by Elevation Capital (formerly SAIF Partners).