The Gurugram-based mother and baby care brand, Mamaearth
The fresh funds will be going to be used for the team expansion, scaling offline presence, strengthening product portfolio, investing in further research and development, and building brand awareness.
“Digital first brands are creating immense value globally. With the e-commerce ecosystem maturing in India, we feel the time is right for Indian brands to achieve the same,” said Rahul Chowdhri, partner, Stellaris Venture Partners.
The brand has a presence in about 500 touch points and is looking to expand to over 5,000 stores by next year, as it is focusing on offline expansion.
Every month, the company’s sells around 50,000 across all categories, with more than 80% of the sales generated with the help of online channels. It aims to grow order volumes to 150,000 units per month over the next year, as it expects the offline channels to contribute 50% of those sales in the coming three years.
Along with the offline expansion, the brand is looking to expand product portfolio as it plans to launch 20 products across different categories.
The brand has also raised $250,000 from Indian actor and entrepreneur, Shilpa Shetty Kundra in the month of April 2018.
Picture Credits: Mamaearth