Mom & Baby Care Brand Mother Sparsh In Talks To Raise Series A Round The brand is in talks with multiple investors to raise somewhere around $3 million to $4 million worth of funding within the next 3-4 months
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Mom and baby care brand Mother Sparsh is going to raise its Series A funding in the upcoming months. The brand is in talks with multiple investors to raise somewhere around $3 million to $4 million worth of funding within the next 3-4 months.
Company's co-founder and chief executive officer Himanshu Gandhi confirmed the same with Entrepreneur India and said that the capital infusion will be utilized for R&D and innovation.
"We would also use the investment for increasing employee strength and enhancing marketing capabilities," he further added.
Founded in 2016 by Gandhi and his wife Rishu Gandhi, Mother Sparsh offers around 45 types of nature-based and ayurvedic skin & hair care products for babies and millennial moms.
Gandhi who earlier held a government job after marriage discovered that his wife and him share a common interest to build something from scratch. The couple realized that there is a significant gap in the baby and new mother care segment in the country.
He said though the market was huge with already global brands addressing the demand there were hardly any brands offering nature-based solutions, based solely on the need-based proposition of consumers and R&D-driven innovative solutions.
"Therefore, it can be said that the market is very niche in India. Although, Mother Sparsh clearly holds a leading position in premium baby wipes foray," Gandhi claimed.
Baby wipes were the first product from the brand after rigorous research and claim to be a 99 per cent pure water unscented wipes that prevent skin rashes and itchiness. Gandhi said that there are skin and hair issues that women face in their post-pregnancy phase which the brand tries to address.
Initially started with INR 10 lakh in a seed round, the brand in 2020 reached its break-even point with a registered five times fold overall growth. The Haryana-based brand clocked around INR 22 crore last financial year and is at present registering a run rate of INR 50 crore. The brand plans to register INR 100 crore by the end of financial year 2023.
Apart from its website, the brand also sells its product via Amazon, Flipkart, Firstcry and Paytm mall.
Though the pandemic had disrupted the supply chain and hindered procurement of raw materials, the brand now is focusing on providing anti-aging and skin tightening segments for collagen boosting. In future, it further aims to offer products to cure hair and skin, blemish, dark-spots related issues.
