Sirona, a start-up specializing in feminine hygiene, has raised Rs 100 crore (round $13.4 million) in a Series B funding spherical led by Good Glamm Group, the corporate mentioned in an announcement.
The spherical additionally noticed secondary buyout with early traders together with seed and angel traders.
This is among the largest quantities invested in a Series B spherical for a DTC (direct-to-consumer) feminine hygiene start-up, the corporate claims.
Sirona, a startup that sells feminine hygiene merchandise such because the urination system PeeBuddy, was included in 2015 by Deep Bajaj and Mohit Bajaj. The startup has produced a number of hygiene merchandise together with interval ache aid patches, menstrual cups and pure anti-chafing rash cream.
IAN Network had first invested $450,000 in 2017, adopted by a small bridge funding of $250,000 in 2019.
The firm mentioned it has offered over 3 million items of PeeBuddy and over 400,000 Sirona Feminine Pain Relief Patches have been offered, it mentioned.
“We had a number of time period sheets from VCs and different strategic traders however the mixture of cash and instant worth which the Good Glam Group supplied was unparalleled. We have been worthwhile for the final 3 years and are rising steadily. We imagine that the partnership with The Good Glamm group, given their edge in phrases of content material and offline entry will assist us scale quicker whereas staying worthwhile. We hope to quickly hit the 100cr income mark,” Deep Bajaj, Founder and CEO of Sirona Hygiene mentioned.
“Aspirations are to see Sirona at main shops, fixing extra feminine hygiene issues confronted by Indian ladies from puberty to menopause & turn into the primary start-up in our class to hit 500 crore income, hopefully inside 3 years,” he added.
Founded in 2015 by Deep Bajaj and Mohit Bajaj, Sirona has produced a number of hygiene merchandise together with interval ache aid patches, menstrual cups and pure anti-chafing rash cream. The model is operated by Sirona Hygiene Pvt Ltd.
Recently, The Good Glamm Group, acquired MissMalini Entertainment, one of many nation’s largest movie star media and influencer expertise administration community, for an undisclosed quantity.
MyGlamm was based in 2017 by Sanghvi and Priyanka Gill. The firm claims to be India’s fastest-growing D2C magnificence model, with a spread of over 800 cruelty-free and vegan merchandise throughout classes comparable to make-up, skincare, and private care. It additionally has over 30,000 offline factors of sale throughout 70 cities of India.
Sanghvi Beauty and Technologies, which operates model MyGlamm, unveiled The Good Glamm Group in September below which it has consolidated its varied companies in a bid to strengthen its place as a ‘digital home of manufacturers’ powered by a content-to-commerce technique.
St.Botanica and Oriental Botanics, two cosmetics firms, have been bought by the group final month. ScoopWhoop Media Pvt Ltd, a digital media and way of life content material platform backed by Kalaari Capital, was purchased by the enterprise in October. In the identical month, it bought baby-care items agency The Moms Co for an unknown sum.
The firm additionally owns POPxo (a tweens’ targeted cosmetics model) and Baby Chakra, in addition to MyGlamm (a cosmetics model) and these acquired belongings (child merchandise model).
The Good Glamm Group is especially bullish on haircare, notably hair color, because it feels that e-commerce penetration in haircare is lower than 3.8% regardless of the broader class touted at $3 billion. Sanghvi is equally optimistic that The Good Glamm’s content material to ecommerce moat and superior merchandise may also be useful to get deeper in skincare as properly. The firm is concentrating on to go public by Diwali 2023.ADVERTISEMENTADVERTISEMENT