Mom and Baby Care Brand The Moms Co Bags $8 Mn In Series B Round
The Delhi-based startup will utilize the fresh fund to reach 5 million consumers to become one of India's fastest-growing D2C brands to reach the INR 100 crore mark
Mom and baby care brand The Moms Co. on Tuesday announced that it has raised $8 million in Series B Round from Indian as well as international venture capitals. The round saw participation from Saama Capital and DSG Consumer Partners, among others. Founders of Beardo, Ashutosh Valani and Priyank Shah and Maverix Platforms’ Shripad Nadkarni also participated in the round.
This is the third round of funding for the company led by existing investors DSG Partners and Saama Capital. Earlier, the brand received angel investment in 2016, bagged pre-Series A round in 2017, and a Series B Round in 2019.
With the fresh funding, the startup is targeting to reach five million consumers to become one of India’s fastest D2C brands to reach the INR 100 crore mark. The company will also expand its natural, toxin-free products by launching new products for moms and babies. The brand will also invest in technology and go international.
Malika Sadani, founder and chief executive officer, The Moms Co., said, “Over the last few months, we have seen moms re-evaluate their choices when it comes to the personal care products they use. They are searching for natural & safe products that don’t leave a negative impact on the environment. At The Moms Co., we have always been committed to creating natural, safe and effective products that are Australia-Certified Toxin-Free™, Plastic Neutral and PETA-certified Cruelty-Free™ With this fundraise, we continue our purpose of helping Moms with Safe, Natural Effective solutions and are looking forward to expanding our mission with the next 5mn moms trying The Moms Co. and feeling the difference for themselves while taking care of the environment.”
Saama Capital and DSG Partners, on the investment said, “We're excited to continue supporting the team. The team has built The Moms Co. into India's most loved and largest dedicated Mom & Baby startup. In particular, we are very impressed at how Malika and her team have built the brand in a very capital efficient manner. Despite COVID-19, the company is on track to be one of the fastest-growing brands to get to a Rs 100cr run rate in the last few years. We continue to be excited to be part of this journey.”
On the investment, Ashutosh Valani said, “After our exit from Beardo, we were looking for brands that had a similar passion for solving a problem and a distinctive voice with which they spoke to their consumer. We’ve loved how The Moms Co. has built such a strong connection with Indian Moms and are excited by the sharp brand that Malika and the team have built so quickly.”
Shripad Nadkarni, founder of Maverix Platforms, a Cloud Kitchen venture and angel
investor in Paper Boat and Epigamia said, “Over the last years, The Moms Co. has emerged as a clear leader in the Mom & Baby care space. I'm excited by how sharply Moms relate to what the brand stands for and look forward to working closely with the team to expand the brand into newer categories and products.”
Founded in 2017, this Delhi-based startup has diversified its offerings across categories of face care, hair care, and yet others, with over 30 SKUs in three years. The firm now covers around 15,000 delivery pin codes and has a physical presence in five cities.