Pee Safe Raises INR 25 Cr In Pre-Series B Funding Round
The company aims to build depth in personal hygiene and accelerate personal care brand FURR
Hygiene and wellness brand Pee Safe announced on Thursday to have raised INR 25 crore in pre-Series B funding in a round led by entrepreneur and investor Shaival Desai and existing Series A investor Alkemi Growth Capital.
Through this raise, Pee Safe aims to build depth in feminine hygiene and sexual wellness, and accelerate its personal care brand FURR as well as allocate funds for further R&D and product launches in the next year. The brand is also looking at raising Series B funding later this year.
"We are excited and happy about the growth prospects of Pee Safe is a brand that addresses personal and intimate hygiene holistically. The funding round will enable us to further research and development, as well as build Pee Safe as a forward-looking brand. We are happy to have Shaival Desai's support. Alkemi Growth Capital have placed their trust in us once before and even this time, we will ensure that the association is a win-win in all respects," remarked Vikas Bagaria, founder and chief executive officer, Pee Safe.
Pee Safe's online business has seen a 40 per cent jump in the current quarter and the brand has achieved over 70 per cent growth annually (FY20-21).
"Pee Safe and its sub-brands Domina and FURR have continued to grow alongside the creative, innovative, and much-needed products for its target segment. The team is agile and is closely connected with its customer base that truly loves its products. Pee Safe has demonstrated boldness in challenging long-held stereotypes and to that extent is making it fun and normal to talk about topics that may previously have been taboo," stated Alka Goel, founding partner, Alkemi Growth Capital.
Pee Safe claims to be helping India fight health issues brought on by unhygienic conditions through their complete personal hygiene and wellness products as they also offer environment-friendly products like biodegradable pads and menstrual cups and also plans to launch other sexual wellness products in the near future. Their recently launched FURR range of products offers an entire portfolio of grooming and skincare essentials and aim to promote body positivity and even gender neutrality to a large extent.
"We are really excited to have partnered with Pee Safe in their journey to become a leader in the personal hygiene space in India. Their domain expertise and knowledge of the Indian consumer, coupled with an underpenetrated market create an unparalleled opportunity to take the market by storm," added entrepreneur and investor Shaival Desai.
Apart from raising $10 million in series B funding, Pee Safe is looking at expanding its retail presence from the current 10,000 stores to having a few franchise-owned brand exclusive stores (FOFO) to enhance the customer experience across India. They have already expanded overseas and are building local production of toilet seat sanitizers in Europe, the company shared.