Nobel Hygiene Raises INR 132 Crore From Sixth Sense Ventures
The company will utilize the funds to accelerate its growth trajectory towards becoming India's top positioned hygiene products giant, and to further strengthen its manufacturing prowess
Nobel Hygiene Pvt Ltd., an Indian manufacturer of absorption hygiene products, has raised INR 132 crore from existing investor Sixth Sense Ventures. The company will utilize the funds to accelerate its growth trajectory towards becoming India's top positioned hygiene products giant, and to further strengthen its manufacturing prowess.
"We are the largest Indian absorption hygiene manufacturers, and are excited to further accelerate our plans with this new investment alongside one of the best Indian FMCG analysts, and a shrewd investor, Mr Nikhil Vora. Now that our factory expansion in Gujarat is complete, we are poised to manufacture more, better, and faster to meet increasing demands across the country. This, alongside the investment, will help us progress towards our goals in the coming years; making up for the Covid slump the industry experienced in the last few years. I trust this association will be highly beneficial for all the stakeholders of Nobel Hygiene," said Kamal Johari, MD and CEO, Nobel Hygiene.
Strong technical understanding and focus on continuous innovation has enabled Nobel to successfully grow at a CAGR of 23 per cent in the last three years. The Company is on track to hit INR 1000 crore in revenue at the close of this financial year. Nobel operates in the $2.5 billion Indian absorbency category which is growing at 15 per cent per annum, claimed by the company in a statement.
"Nobel fits perfectly well into the Sixth Sense thesis of betting on first generation founders, creating challenger brands in the high potential $2.5 billion absorbency category. We have been big believers in this category, one of the few consumer categories that ensure high frequency, brand loyalty along with a long consumer lifecycle. We see Nobel as a perfect opportunity to play the hygiene segment in India. Super stoked to cement our relationship with Nobel Hygiene through this investment," said Nikhil Vora founder and CEO of Sixth Sense Ventures.
Founded by Kamal Johari in 2000, Nobel Hygiene created the adult diaper category in India with its market leading brand Friends.