Earlier this year, founders Deep Bajaj and Mohit Bajaj stepped down from their active roles, and they have now also resigned as active directors
Bengaluru: Content-to-commerce company Good Glamm Group has completed the acquisition of the fem-tech company Sirona Hygiene for Rs 450 crores (approximately $60 million) in an all-cash deal, the companies said in a joint press release on Friday.
Earlier this year, founders Deep Bajaj and Mohit Bajaj stepped down from their active roles, and they have now also resigned as active directors.
“It hasn’t been an easy road—bootstrapping, overcoming fundraising challenges, breaking taboos, and dealing with copycats – we have seen it all,” said Deep Bajaj.
“This all-cash acquisition feels like validation for all the hard work. While it’s difficult to part with something we are so deeply connected to, Good Glamm is the ideal partner to take Sirona to the global stage,” he added.
The transaction has provided windfall benefits to Sirona’s employees through accelerated employee stock ownership plan (ESOP) vesting, resulting in early financial gains.
Founded in 2014-15, Sirona was one of the pioneers in the fem-tech industry, offering a range of products that cater to women from puberty to menopause.
The brand has introduced PeeBuddy, India’s first stand-and-pee device for women, and other innovative products like India’s first herbal period pain patches, exhaustive menstrual cups range, India’s first period stain removers, anti-chafing rash creams and sanitary disposal bags. PeeBuddy is currently used by more than 3 million women, while Sirona menstrual cups, a pad alternative, are used by 4 million women.
In 2022, Good Glamm Group invested Rs 100 crores in Sirona through primary and secondary investments, delivering substantial returns of six-fold to 20-fold for early angel and seed investors. Since then, Sirona has tripled its revenues in just 24 months.
“With Sirona’s pioneering spirit and our collective resources, we are excited to elevate the brand to new heights, creating a lasting impact on women’s wellness globally through innovative solutions and products,” said Darpan Sanghvi, Group founder, Good Glamm Group.
The Good Glamm Group is a beauty and personal care company owning a portfolio of brands including MyGlamm, The Moms Co, Organic Harvest, St Botanica and WYN Beauty by Serena Williams.
Founded in September 2021 by Sanghvi, Priyanka Gill and Naiyya Saggi, the Group is backed by investors such as Warburg Pincus, Prosus Ventures (Naspers), L’Occitane, Bessemer Venture Partners, Accel, and Amazon. Originating in South Asia, the operations for the Good Glamm Group now span across the United States, South Asia, and the Middle East.
