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Mamaearth Raises $4 million from Stellaris and Others

The Gurugram-based mother and baby care brand, Mamaearth has now raised an amount of Rs 29 crores ($4 million) in the funding round of series A, which is led by a prominent investor, Stellaris Ventures, along with the existing investor Fireside Ventures.

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.

Mamaearth was founded by a husband-wife duo, Varun and Ghazal Alagh in the year 2016. It sells various baby and mother care products through its platform along with other online channels, which include the Flipkart, Amazon, Nykaa, and Firstcry, among many others. The brand also offers personal care products for men.

“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.

Mamaearth claims to have touched the annualized revenue run rate of more than ₹15 crores as of August and is looking to cross ₹100 crores in revenue by the end of the year 2021.

The brand has also raised $250,000 from Indian actor and entrepreneur, Shilpa Shetty Kundra in the month of April 2018.

Picture Credits: Mamaearth

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