New Delhi-based mom and baby care brand The Moms Co has raised another $3 million as part of its Series B funding round, which was announced in December 2019 with an amount of $5 million.
The round was led by existing investors DSG Consumer Partners and Saama Capital with participation from angel investors including Shripad Nadkarni, an early investor in Paper Boat and Epigamia, and the founders of Beardo, Ashutosh Valani and Priyank Shah.
With the infusion from the round, the startup aims to reach 5 million consumers to become one of India’s fastest D2C brands to reach the Rs 100 crore mark.
Over the next two years, the brand said it is looking to expand its natural, toxin-free products by launching new products for moms and babies, expanding into newer retail formats, investing in technology, and to launch global operations.
Malika Sadani, Founder and CEO, The Moms Co, said,
“With this fundraise, we continue our purpose of helping Moms with safe, natural, and effective solutions, and are looking forward to expanding our mission with the next five million moms trying The Moms Co and feeling the difference for themselves while taking care of the environment.”
Malika Sadani, Founder and CEO, The Moms Co
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Established in 2017 to address a huge gap of toxin-free products in the Indian market for prenatal and postnatal consumption, and baby care, The Moms Co works with experts across India, Australia, and Switzerland.
The startup said it has diversified its offerings across categories of face care, hair care, and others, with over 30 SKUs in a matter of three years. With over one million customers, the brand now delivers to over 15,000 pin codes and has a physical presence in five cities across India.
The Moms Co had previously raised an angel investment round in 2016 and a Pre-Series A round in 2017.
Prominent FMCG investors Saama Capital and DSG Partners, who have previously led funding for The Moms Co shared,
“We're very impressed at how Malika and her team have built the brand in a very capital efficient manner. Despite COVID-19, the company is on track to be one of the fastest-growing brands to get to a Rs 100 crore run rate in the last few years. We continue to be excited to be part of this journey.”
Edited by Megha Reddy
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Link : https://yourstory.com/2020/09/funding-alert-the-moms-co-dsg-consumer-partners-saama-capital
Author :- Sujata Sangwan ( )
September 15, 2020 at 11:25AM
YourStory