Avni Raises $75,000 In Seed Round From We Founder Circle
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Startup investment platform We Founder Circle (WFC), continuing its mission to seed-fund early-stage startups, has invested in Avni, a startup focussed on conscious and holistic menstrual care.
The seed round worth $75,000 witnessed participation from key investors including Amit Tyagi, an entrepreneur turned investor, Srikanth Iyengar, a senior executive in the technology services industry, and an investor in edtech, healthcare, and consumer startups.
The startup plans to utilize funds in product development and expanding the product line. It also plans to exhaust a part of the fundraise in creating more awareness through various on-ground initiatives.
“Currently, what we see in the market is a lot of chemical-based products that cause serious vaginal diseases and skin problems. This turns out to be a bigger challenge for women with sensitive skin. We are trying to provide natural and reusable solutions so that women do not have to compromise by using plastic and chemical-based products. We started with antimicrobial reusable and organic cotton sanitary pads as 80 per cent of the market share of feminine products is dominated by the pads. Gradually, we moved on to launch more products in the menstrual care category. Until now we have already served over 5000 women. We strategically raised a small amount in this round. Keeping our growth plans in mind we aim at a bigger round by August 2021,” said Sujata Pawar, co-founder, Avni.
Due to a lack of organic and natural products, a lot of women are left with no choice but to use chemical-based sanitary products that cause skin challenges. To address the same, Avni started working on alternatives and introduced tested, innovative products, made with carefully selected ingredients. The startup further identified that there is a lack of awareness among women users towards reusable menstrual products and to help them with the queries it also launched a 24X7 support period helpline, the startup shared.
“The market of feminine hygiene products is expected to grow to INR 58.62 billion by 2024. And with innovative startups like Avni coming into the play, there will be a niche of customers for natural options. Space is less penetrated and not so competitive yet. This highlights the abundant scope it holds,” added Neeraj Tyagi, co-founder, and chief executive officer, We Founder Circle.
The products by the brand are available on various e-commerce platforms- Amazon, Flipkart, 1mg, Qtrove, Shycart, Upciclo, ThePinkBox, and 27 retail stores in India including Vayas Sakhi.