MamaEarth, an online baby care products marketplace owned by Honasa Consumer Pvt. Ltd., has raised fresh funding from its current investor Fireside Ventures.
In a statement, Co-Founder of Mamaearth, Varun Alagh stated that in the phase where early-stage consumer-centric venture will be directing the round, more 2–3 investors will be participating in the funding rounds ahead. The names will be declared later by this month. The company, though, declined to disclose the sum of money that is been raised in this round.
As per the company, the funding will be utilized to introduce additional product categories, which will focus on mother and child both. The startup has already launched some of the wellness products for mothers, for instance, supplements and herbal tests under the brand, Traditional Recipes.
Founder of Fireside Venture, Kanwaljit Singh said, “We sturdily trust in the idea of MamaEarth, which offers natural and safe products for both children and mothers.
The startups that sell their products via FirstCry.com and Amazon emphasize on reducing parenting pressure and also project to include a range of products specially made for postpartum weight-loss, lactation, and stress relief for new mothers.
The firm was started recently in 2016, by a duo of wife and husband, Varun and Ghazal Alagh. The company’s product portfolio includes body wash, massage oil, sunscreen lotion, diaper rash cream, all-natural bug sprays, hair-shampoo, which is meant to serve for new born infants and children below five years.
Last year in December, the company had secured a funding of an undisclosed amount in the form of seed funding led by Fireside.
The online childcare company is expected to grow its network to other consecutive markets via brick-and-mortars outlets. The company targets to reach the mark of 10,000 consumers in 2017.
The startup claims that certification and scrutiny of the products to ensure toxin-free baby care products is done by the US-based nonprofit organization, Made Safe, which offers an in-detail human health emphasized certifications.
The baby care segment is flooded with loads of market players. This includes FirstCry, which has emerged as a dominant player, while its other peers, for example, Hushbabies had to discontinue their operations. FirstCry also took over Mahindra & Mahindra’s baby care business, BabyOye, in the form of stock and cash deal in 2015.
FirstCry that is owned by Brainbees Solutions Pvt. Ltd, based in Pune, was also in talks to take over mycity4kids, a Gurgaon-based startup that has its hands in the similar sector.