Clensta Raises INR 20 Crore In Series A
The funds will be used to scale up the company's sales, ramp up brand marketing and expand Clensta's online and offline presence across India
Clensta, a direct-to-consumer personal and home care products startup, has raised over INR 20 crore in a series A funding led by Venture Catalysts and Inflection Point Ventures.
The round also saw participation from Hem Angels, part of Hem Securities Limited, N+1 Capital (RBF), the existing investors along with other marquee investors, said a statement.
The funds raised will be used to scale up the company's sales, ramp up brand marketing and expand Clensta’s online and offline presence across India. The brand has achieved a CAGR of over 130 per cent and aims to earn INR 1,000 crore revenues in the next five years.
“At Venture Catalysts we give a lot of significance to startups that work towards making the world a better place. Clensta’s innovative cleaning technology reduces usage of water to a great extent. Clensta’s entry into the D2C segment is likely to create a new category of personal and home care products. We are optimistic that Clensta will become a billion dollar tech-driven personal care brand in the next few years. Wishing the team a great journey ahead,” said Dr. Apoorva Ranjan Sharma, co-founder and president of Venture Catalyst.
“Our ethos revolves around innovation, science and customer centricity. Developing innovative technology has been one of Clensta’s foremost attributes ever since inception. Keeping in mind the Indian home care market size of $6.2 billion, we have adopted an omni-channel strategy to ensure Clensta’s presence in offline as well as online markets. In this light, this funding comes as an affirmation that we continue to lead in the right path. We will be focusing on developing innovative and sustainable products, enhancing our relations with customers and marketing and expansion of our footprints across the country. We aim to use technology to scale the personal care segment and provide personalized shopping experience to our customers," said Puneet Gupta, founder and CEO of Clensta.
Clensta, an IP conscious brand is into personal care and home care space with a focus on science and sustainability. Founded in 2016, backed by IIT Delhi and DST we have 30-plus products in our portfolio. With a multi-channel presence in the recurring customer base, Clensta achieved four times growth since last FY. We are a team of IIT, IIM and SRCC grads and believe in novel ideas and smart execution. Post commercialization and strategic tie up with Cipla for the flagship products Waterless Body Bath and Waterless Shampoo, we have developed a new category of homecare products based on EBDC technology with innovation in products, processes and packaging. Clensta being the leader in B2B, B2B2C segment is now scaling into the D2C, GT and MT space, added the statement.