Sirona Hygiene Raises $3 Mn In Series A Funding
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Sirona Hygiene has raised $3 million from venture capital firms NB Ventures and IAN Fund. The startup, which offers feminine hygiene products, will use the money to strengthen its R&D portfolio.
“At Sirona, we stand committed to solving unaddressed intimate and menstrual hygiene issues faced by women with our innovative products. This funding is a noteworthy milestone for us as we see it as an external validation of our work. We are thankful to NB Ventures, Dubai, and IAN Fund for believing in our mission to break the taboo around feminine hygiene issues. We are also thankful to our customers for supporting us through this journey. We hope to continue to disrupt this space with our innovative products. The money raised would be used to strengthen our position in existing channels and expand to newer markets,” said Deep Bajaj, Founder said, Sirona Hygiene.
The funding will be used to expand business along with a focus on R&D as innovation remains at the forefront of Sirona.
“The necessity for a company that tackles the issues of menstrual and feminine hygiene has presented itself several times across the years. We are glad that Sirona has been solving these issues through innovative products that bridge the gap. At NB ventures, we take pride in supporting mission-led change-makers and Sirona fits the bill well. They have solved many unaddressed feminine hygiene issues and are creating a new category that got us interested. These issues will get more critical in times to come and hence the move to invest could not have come at a better time. We really look forward to this partnership and supporting them in their journey,” shared Neelesh Bhatnagar, chairman, NB Ventures, Dubai.
Sirona Hygiene is an award-winning product innovation brand committed to breaking the stigma around menstrual hygiene with multiple innovative products across categories.
“Sirona is focused on the market for women-oriented products which is a large and rapidly growing category. And then, post-pandemic, by adding a hygiene-focused product portfolio, Sirona has created a huge opportunity for itself. But the bet for us are the entrepreneurs of the company, and the belief in Deep, his vision to create a category-leader and his own passion and ability to scale the company to become a market leader,” mentioned Padmaja Ruparel, founding partner, IAN Fund.
The brand also hosts a number of awareness camps on the importance of menstrual hygiene for underprivileged women and won two CSR awards last year for the same. In terms of performance, Sirona stands out as one of the few profitable start-ups. They have been growing 100 per cent y-o-y for the past three years and have been profitable for the last three years.
“Sirona has successfully developed a range of products that women of all age groups trust while addressing their regular intimate hygiene needs. The current investment should help further scale the distribution and market growth of the brand portfolio across India and beyond,” remarked Vikas Kuthiala, lead investor.
IAN Network was the first outside investment ($450,000) raised by Sirona in 2017, followed by a small bridge ($250,000) in 2019. The startup has been PAT positive since 2019.
“I am super proud of having been able to play a role in the fantastic growth of Sirona. From the time I met Deep & Mohit at a pitch event to now, they have constantly delivered on their promises. Sirona is an established market player today and this funding will help strengthen its position as a leader,” added Ishan Singh, lead investor.
Sirona Hygiene products are available on their website, Amazon, Flipkart, Meesho, PayTm, FirstCry, Nykaa.