UditPep Technologies Pvt Ltd, which owns mCaffeine, India’s first caffeine-infused skin, and hair care brand, has now secured INR 42 crore in the Series B funding round from the clutch of investors led by the RPSG Ventures, and Amicus Capital and its existing investor, Talama Investments.
The investors have seen a huge promise in the mCaffeine, India, fastest growing new age FMCG brand with a strong potential to become one of the leading brands in the premium personal care category for millennial India.
Commenting on the rapid pace of growth, Tarun Sharma, Co-founder & CEO, mCaffeine said, “In this round, we had 3 term sheets and chose Amicus Capital as we loved the long term, product focused approach of the fund. We are extremely happy to have them alongside us while we build mCaffeine from Rs.100 cr to 500 cr brand in the next 3 years. mCaffeine is a digital-first brand focused on millennial India. All of the mCaffeine products are envisioned, engineered, designed & manufactured in India. We strongly believe in ‘Make in India’ and ‘Vocal for local’ to support home grown enterprises. The products are manufactured after extensive Research & Development. We embody the millennial philosophy of “natural first” in the form of clean label. We see product development as an exercise to address the needs of modern lifestyle. We believe in pure, natural ingredients and pursue a rigorous clinical and dermatological testing regime. For us, research is paramount. We will utilise the funds in scaling up our R&D capabilities significantly to consistently deliver high quality products that are well differentiated. Apart from R&D, we will invest in expanding our distribution across digital channels and continue to grow our operations, brand building and organizational scale up. There are about 20 products in portfolio so far and we have aggressive plans to further launch 15-20 products in the next one year.”