MAMAEARTH FUNDING
Purplle closes Rs 1,000 crore funding deal led by Abu Dhabi Investment Authority
Purplle has also announced a Employee Stock Ownership Plan (Esop) liquidity programme and will offer liquidity of Rs 50 crore to its employees. Company cofounder and CEO said they will constantly innovate their technology to provide the best for their customer. Purplle is one of the fastest-growing retailers in the beauty and personal care (BPC) segment, having grown its GMV by four times over the last three years.
What Ghazal Alagh learned from Jeff Bezos? Mamaearth co-founder reveals her decision-making strategy
Ghazal Alagh, co-founder of Mamaearth, has adopted a strategic technique inspired by Jeff Bezos, aiming to enhance decision-making at Honasa Consumer Ltd. Her method involves visualizing consumers in strategic meetings, reflecting a customer-centric approach akin to Amazon's strategies. This innovation has garnered rapid engagement on LinkedIn, prompting discussions on the inclusion of employees in decision-making processes.
Skincare brand Foxtale raises $18 million from Panthera Growth, others
Direct-to-consumer (D2C) skincare brand Foxtale has raised nearly Rs 150 crore in the latest funding round. It will use the capital mainly for expanding into newer categories, founder Romita Mazumdar told us. The company will foray into body care category which includes products like lotions and body wash, she added.
Block deal impact: Mamaearth shares fall 4% as 66 lakh shares change hands
Mamaearth Share Price: Shares of Honasa Consumer, owner of Mamaearth, dropped 4% post a block deal where 66.20 lakh shares exchanged at Rs 439 each, totaling Rs 291 crore. The deal, equivalent to a 2% stake, likely saw Fireside Ventures and Sofina Ventures as sellers, both holding significant stakes in Honasa Consumer.
Ecommerce in slow lane; PhonePe-BharatPe truce
Happy Monday! Online sales haven’t picked up during the final quarter of FY24, industry officials said. This and more in today’s ETtech Morning Dispatch.
Bubble tea brand Boba Bhai raises Rs 12.5 crore from Titan Capital, others
Boba Bhai, a quick-service restaurant (QSR) brand specialising in bubble tea and other food items, said it will use the capital for its plan to expand to 100 outlets within the next 12 months. "Our goal is to expand in tier-1 cities within the next six months and then go to tier-2 and tier-3 cities,” founder Dhruv Kohli said.
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Sebi nod for Awfis IPO; Byju's NCLT saga continues
The stock market regulator has greenlit coworking startup Awfis’ IPO plans. Details on this and more in today’s ETtech Top 5.
Honasa Consumer's The Derma Co hits Rs 500 crore revenue run rate
Honasa Consumer's The Derma Co achieved Rs 500 crore ARR, competing with Minimalist and Plum. Profitable in FY24 Q1-3, it surpassed Rs 350 crore in June-quarter FY24.
‘Train, empower, fund local bodies for better waste management’
On International Zero Waste Day, Sachin Sharma, the founder and director of Gem Enviro Management, shared insights on India's battle against the escalating plastic crisis. Sharma discussed the imperative steps India needs to take to tackle this challenge head-on. His company, Gem Enviro Management (GEM), plays a pivotal role in assisting leading businesses in mitigating their plastic footprint.
Companies flock to public markets as IPO fundraising jumps 19% to nearly Rs 62,000 cr in FY24
While FY24 saw firms from varied sectors tapping the IPO market, BFSI had a limited presence, with just Rs 9,655 crore being raised by companies from this sector. This accounts for about 18% of the total IPO fundraising, compared with 51% in FY23.
D2C skincare brand Foxtale raises $14 million funding led by Panthera Growth Partners
Foxtale Consumer last raised $4 million in 2022 from Matrix Partners and Kae Capital.
When online goes offline: Why brick-and-mortar is back in fashion
India's new digital payment infrastructure and deeper internet penetration triggered a wave of e-commerce, but brick-and-mortar retail is making a comeback. Direct-to-consumer brands are opening physical stores. Retail leasing is at a record high. Growth in online users has slowed. Retailers are expanding stores to enhance the shopping experience.
Smaller IPOs an alternative for shrinking VC exits: Blume report
According to a report from Blume, startups which are not seeing a lot of interest from growth investors, or hitting a growth ceiling and ‘feel better to build profitably than burn for growth’ should be exploring IPOs.
D2C luggage brand Mokobara raises $12 million in funding from Peak XV Partners, existing investors
Mokobara's existing backers Sauce VC and Saama Capital have also participated in the Series B funding round. Peak XV invested around $9.4 million of the $12 million raised by Mokobara.
PropTech startup Crib to invest $1 million in digitising student housing and co-living market
PropTech startup Crib invests $1 million in 'Crib Plus' to digitize India's student housing and co-living market, serving over 1000 landlords managing 2500 properties and 1,50,000 beds. Founded in 2021, Crib targets an annual rental exceeding Rs 2,500 crores and aims to cater to large-scale student housing and co-living brands. India's residential rental market exceeds USD 20 billion, with the co-living market projected to double by 2024, indicating significant growth potential. Crib has raised over 2M$ from investors like Rebright Partners, PayTM's Vijay Shekhar Sharma, and Cred's Kunal Shah.
Luggage brands on high-growth path as travel industry booms
India's travel renaissance is driving a luggage revolution, with sales doubling. Global brands like Tommy Hilfiger and Delsey Paris are growing in the premium range, while Safari, Kamiliant, and Aristocrat are popular in tier-3 and 4 cities. The market is also seeing partnerships with luxury brands and celebrities, and the emergence of direct-to-consumer brands.
BHEL, PNB, Mamaearth and 29 other stocks enter MSCI indices
India's weightage in the MSCI Global Standard (Emerging Markets) index will reach a historic high of 18.2%. India's representation is expected to increase to around 18.5% after the February rejig, according to Abhilash Pagaria of Nuvama Alternative & Quantitative Research. The quarterly rebalancing could lead to significant inflows from passive FII funds.
Petcare startup Supertails raises $15 million led by RPSG Capital Ventures
Bengaluru-based startup Supertails will use the funds for offline expansion, scaling up products, acquiring new customers and expanding its healthcare service, Supertails Pharmacy. The company plans to launch trial stores in a mix of metropolitan and tier-I cities like Bengaluru, Mysore or Ahmedabad.
Board exits at Paytm bank; Mamaearth’s Q3 profit up 265%
Shinjini Kumar, a former Bank of America and PricewaterhouseCoopers (PwC) executive, resigned from the payments bank’s board in December, we have learnt. Manju Agarwal, former deputy managing director at State Bank of India, has also quit.
VC fund Stellaris Ventures sells part stake in Mamaearth for Rs 140 crore via bulk deal
Stellaris Ventures has offloaded 32.17 lakh shares or 1% stake in Mamaearth at Rs 437 apiece, according to the exchange data. Through the stake sale, Stellaris bagged Rs 140.6 crore. It was unclear who the buyers were in the transaction. The stock was listed in November last year, but soon fell prey to lofty valuations, relegating the stock to its lowest level of Rs 256.
Inflows from private equity, venture capital funds to domestic companies plunge to $27.9 billion in 2023
Private equity and venture capital investments in Indian companies declined about 40% to $27.9 billion in 2023, compared to $47.62 billion in 2022, according to data from Venture Intelligence and the Indian Private Equity and Venture Capitalist Association. The year also saw an increase in outflows to $19.34 billion from $18.45 billion in 2022. However, industry watchers expect a rebound in funding next year.
Snitch raises Rs 110 crore in funding from SWC Global, IvyCap Ventures, others
The direct-to-consumer (D2C) firm did not disclose the valuation at which the fundraise took place. Snitch had earlier raised a much smaller funding round from a clutch of angel investors, including Lenskart founder Peyush Bansal and Boat founder Aman Gupta.
Mamearth turns 7, Ghazal Alagh shares pitch deck from 2016 that Honasa sent to VCs for raising funds
The entrepreneur took to LinkedIn to inform her followers that the personal beauty care brand Mamaearth - a part of Honasa Consumer - turned a year older on Tuesday. She also shared a few points from the "first formal pitch deck."
Fireside Ventures sells 1.9% stake in Honasa Consumer for Rs 230 crore
Through the sale, the VC fund bagged about Rs 230 crore. As of September end, Fireside held 7.57% in the company. Meanwhile, Norges Bank on account of The Government Pension Fund Global has picked up 0.77% in Honasa Consumer, according to exchange data.
Honasa Consumer jumps 6% after Fireside Ventures sells partial stake in Mamaearth parent via block deal
The price action was supported by strong volume action as nearly 76 lakh shares traded on the NSE around 9:40 am. Brokerage house Jefferies has retained a buy rating on the stock for a target of Rs 530.
VC fund Fireside Ventures to sell 1.9% stake in Mamaearth parent via block deal: Report
The VC firm is offering 61 lakh shares or 1.9% stake in the personal care products maker. The deal is expected to be worth Rs 230 crore. The floor price for the sale is set at Rs 368.7-384.1 a share, representing upto 4% discount from the current market price.
Home decor startup Vaaree raises $4 million in round led by Peak XV’s accelerator programme Surge
Investors in the round include Peer Capital, All In Capital and Better Capital. The new funding will be used to accelerate hiring and enhance the user experience on the online platform, said a statement from the company.
Mamaearth parent Honasa raises Rs 765 crore from anchor investors ahead of IPO
US financial services major Capital Group has been allocated 8.77% of the anchor investor portion, followed by crossover investor Fidelity, Norges Bank and Abu Dhabi Investment Authority (ADIA).
Mamaearth's parent company, Honasa Consumer raises Rs 765 crore from anchor investors
US financial services major Capital Group has been allocated 8.77% of the anchor investor portion, followed by crossover investor Fidelity, Norges Bank and Abu Dhabi Investment Authority (ADIA).
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