Vanity Wagon Raises Around $2 Million In Pre-Series A Funding The fund raised will be utilized to strengthen its position in the market and invest in brand building, growing the private label portfolio, offline retail, technology, and marketing and sales-driven strategies
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Vanity Wagon, a beauty marketplace, has raised around $2 million in pre-Series A funding round at a valuation of $8 million, led by Agility Ventures Partners and Lotus Herbals Private Limited. The funding round also saw participation from Inflection Point Ventures, Venture Catalysts, and notable HNIs. The fund raised will be utilized to strengthen its position in the market and invest in brand building, growing the private label portfolio, offline retail, technology, and marketing and sales-driven strategies.
"Our vision is to build a sustainable and a legacy brand in the beauty segment which will only be strengthened by this investment. Furthermore, our strategy to go omnichannel, co-own more clean beauty brands, and expand internationally is what a part of this investment will be deployed in. The beauty market and the e-retail market are going through an interesting time, where every enterprise is trying to establish a market presence, and with learning of 4 years and a robust team, we are definitely going to continue reinforcing our hold on the Clean beauty market," said Naina Ruhail, co-founder, director and co-CEO, Vanity Wagon.
The company has onboarded over 350 on the portal with 15 per cent international brands with the launch of 5 new international brands in India. It aims to achieve 5 times sales growth with acquired brands, and also to be an INR 500 crore company in the next 2 years, claimed by the company in a statement.
"Vanity Wagon allows investors an opportunity to be a part of one of the fastest-growing industries, Beauty. The industry has seen several unicorns and also several companies that have outgrown the market constantly, and still, the market continues to grow. This signifies a strong future for not only beauty but for commerce as a whole," said Dhianu Das, co-founder, Agility Ventures.
Launched in 2018 by Naina Ruhail, Prateek Ruhail, and Sahil Shrestha, Vanity wagon is a one-stop solution for all your beauty needs, where one can shop clean beauty and wellness products at one platform.