Delhi-based information-oriented organic beauty marketplace Vanity Wagon on Wednesday said it has raised a seed funding of $200,000 (Rs 1.5 crore) led by Agility Venture Partners. Other investors who participated in the round include Dhianu Das (Managing Partner, Alfa Ventures) and Sanjay Nagi (angel investor).
In a release, the two-year-old startup said the fresh funds will be used for strengthening its customer first technologies, and also incrementing the reach of the brand to fulfil a larger consumer base.
Further, with a tremendous growth in the clean beauty industry (over 50 percent year on year) over the last three years and with brands such as Mamaearth, The Moms Co, and ARATA strengthening their hold on the market, investors found it ideal now to back a clean beauty market, the release added.
Prateek Ruhail, CEO, Vanity Wagon
“Vanity Wagon is a one-of-a-kind market for non-toxic beauty products, already making its mark in the clean beauty industry. Consumers today want clean alternatives for their beauty needs and with a lot of major brands emerging in this space, we look forward to building the future of clean-organic personal care products with Vanity Wagon,” said Dhianu Das.
Be it beauty or personal care, Vanity Wagon pledges to bring only toxin-free and natural beauty products to its consumers at their doorstep. The startup claims to have achieved 4x growth in the last two years since its inception in Sept 2018.
Speaking on the occasion, Prateek Ruhail, CEO, Vanity Wagon stated,
“We have always believed in creating value for our consumers, and this has helped us carve out a special place in their minds. Having grown faster than the sector growth in the last two years, this was an ideal time for us to take the next leap. With the help of our investors, especially veteran Dhianu Das, we aim at capturing a sizeable quantum of the market in the next two years.”
The seed round was orchestrated by Fundvice, acting as an accelerator to Vanity Wagon.
Edited by Anju Narayanan
Link : https://yourstory.com/2021/01/funding-alert-organic-beauty-marketplace-vanity-wagon-agility-venture-partners
Author :- Sujata Sangwan ( )
January 06, 2021 at 05:27PM
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