Dr. Sheth’s, a company which makes skin care products aimed for the luxury segment has bagged an investment of $625,000 (Rs 4 crore) from The Mumbai Angels Network. Another investor who added a significant amount in the round has remained anonymous.
The company was launched in 2016 and makes personal care products such as sunscreens, brightening cleansers, antioxidant moisturizers, toners, masks, eye creams, and peels. Notably Dr. Sheth's claims to be making all the products without using chemicals such as parabens, sulfates or phthalates. It also adds that all the products of the company are vegan.
The fresh funds as per the firm will help them scale their operations. It will also use the amount for brand awareness and develop new product lines. International expansion is one area where the firm says that it will deploy a significant chunk of the currently raised amount. Aneesh Sheth, the CEO, and founder of the company talking about the firm said, “Dr. Sheth’s is a clean beauty brand safe for consumers and derived from natural ingredients and medically tested.”
Nandini Mansinghka, the managing director and CEO of Mumbai Angels Network commenting on the capital infusion said, “We see Dr. Sheth’s as a company with a sharp focus on their product line and see them growing successfully in the natural beauty market with their targeted consumer approach.”
As per Crunchbase, the group last backed Gujarat-based Nutrisattva (Proliva) in December last year. The group as per Crunchbase has backed more than 64 companies and have made exists from a few startups as well. Fashion e-tailer Myntra was one of the biggest bets of the company.