The funding round saw participation from the existing investors that include the likes of Fireside Ventures, Snapdeal founders Kunal Bahl and Rohit Bansal; Marico's Rishabh Mariwala. Rahul Chowdhri, a partner at the Stellaris Venture Partners will be joining the board of Mamaearth post the transaction.
The company using the freshly raise investment plans to expand their team and at the same time, it wants to put more money in product research and development. The firm also plans to start retail stores in order to reach directly to the consumers. Varun Alagh the co-founder of the firm who started the company along with his wife Ghazal Alagh in 2016 commenting on their idea of starting their retail presence said, “We now want to build a strong offline presence as well to become a household name when it comes to baby and mama care products."
The startup offers products like body lotions, rash creams, shampoo, body wash, massage oil and bug sprays aimed at the children up to 5 years. Apart from running their own e-commerce portal, the firm sells the products through the portals like Amazon, FirstCry, Nykaa, Flipkart, Paytm. It claims to have delivered their products in about 120 cities ever since its inception. It is also working on their plans to double their customer base which is more than 1 lakh right now.
The company sells their products through stores as well. It has more than 300 stores across Delhi, Mumbai, and Bengaluru. However, more than 90% of the business for Mamaearth comes from the online channel.
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