Mamaearth, a toxin-free mom and baby care brand has raised 4 million from Stellaris Ventures and Fireside Ventures and a host of angels as part of its Series A funding.
The angel investors include Rishabh Mariwala from the Marico stable and Kunal Bahl and Rohit Bansal, the founders of Snapdeal, who also happen to have invested earlier in Mamaearth.
The stated objective of the founder couple, Varun and Ghazal Alagh, is to relieve the parents of any kind of stress on account of stuffs they use with their newborns worrying whether they are safe for their kids or not.
According to them, some of the harmful chemicals generally found in products that come into direct contact with the babyâ€™s skin, can include parabens, sulfates, and artificial fragrances. Mamaearthâ€™s products are completely free from any of these chemicals and are certified as such. Besides the babies, the expectant mothers are also targeted for safe products. Their products have reached around 150,000 customers, Mamaearth claims.
The funds now raised will be used towards expanding on this base and take it to a million parents over the next 3 years. For this, whatever inputs are needed, in terms of augmenting the workforce, engaging in research to improve existing products and come up with new ones and grow in more geographies. Mamaearth has been offering its products online so far, but plans to take its products to the offline space as well.
To begin with some 500 odd stores already stock their products and this figure will have to go up substantially for the company to achieve its target of reaching 1 million users. The revenues are growing and the company hopes it can touch Rs 100 crore in the next 3 years from around Rs 20 crore now.
As part of their investment in Mamaearth, Rahul Chowdhri of Stellaris Venture Partners will join the Board.