HCPL or Honasa Consumer Pvt Ltd (HCPL), which runs personal care brand Mamaearth has just
announced that it has raised $50 million (Rs 372.4 crore) in funding led by Sofina Ventures SA.
The round also saw participation from existing investor Sequoia Capital India. HCPL had
previously raised $23 million in funding, and the latest infusion has pushed the company's
valuation to $730 million.
Along with primary infusion by Belgian-based investment company Sofina Ventures SA, the
latest round also saw the secondary sale by early investors like Fireside Ventures, Stellaris
Venture Partners, Sharp Ventures, and Titan Capital. However, the company did not disclose
additional details of the secondary sale. Honasa said the round also allowed some early
employees to monetise their vested ESOP.
The team at Mamamearth confirmed that this new round of funds will help amplify the growth
process of the brand and strengthen the D2C and offline expansion of Mamaearth along with
further accelerating the growth of The Derma Co, which is already showing early signs of
success since its launch in 2020. The startup will also explore inorganic growth opportunities in
the beauty and personal care segment, he noted. The funding will further provide impetus to
the innovation funnel and help serve consumers with a wider assortment of products, as per
the statement.
