Mamaearth parent co: Wow! 1st unicorn of Indian Start Up universe in '22
_large.jpg)
03 January 2022, Mumbai:
With the latest funding, Mamaearth parent gets the tag of joining the very first unicorn of 2022, valued at $1.2 billion The round also gave employees an opportunity to monetise their vested employee stock ownership plans (ESPOs).
The round witnessed participation by Sofina Ventures SA, the Belgium-based investment company, and Evolvence, a UAE-based India-focused fund. The round also gave employees an opportunity to monetise their vested ESOPs.
Honasa co-founder and Chief Executive Officer Varun Alagh claim their flagship brand Mamaearth is a leader in the D2C personal care segment and The Derma Co is set to chart out its success story.
The company envisages using the funds towards expanding its portfolio of personal care D2C brands venturing into new categories.
Incidental to the launch of Aqualogica, a hydration-based skincare brand, the company has entered a diverse new segment catering to unique requirements of Indian skin and tropical weather.
Dear Reader, we at DFU Publications are committed to providing the latest news updates on trade development and insights, to keep our readers informed. Stay tuned.
