Mamaearth is in talks to raise around $120-150 million in a pre-IPO funding round, while WestBridge Capital has acquired Indian online investment platform FundsIndia.
SoftBank, GIC, QIA may back Mamaearth round
Baby and mother care brand Mamaearth is in talks to raise around $120-150 million in a pre-IPO funding round, reported MoneyControl.
The company is looking to raise funding from SoftBank, sovereign wealth funds like GIC and Qatar Investment Authority (QIA), and pre-IPO investors like Fidelity Investments, added the report.
Mamaearth is expecting to raise capital at a valuation of $1.5 billion. Founded by husband-wife duo Ghazal Alagh and Varun Alagh, Mamaearth claims to offer 100% toxin-free and natural baby care, skincare, and hair care products.
Since 2016, Mamaearth has created a product portfolio of more than 140 products and claims to have reached over 5 million customers in 500 Indian cities.
The company filed its draft red herring prospectus (DRHP) with the markets regulator, the Securities and Exchange Board of India (Sebi), to raise funds through an IPO in December last year.
PE firm WestBridge Capital buys FundsIndia
London-based private equity firm WestBridge Capital has acquired Indian online investment platform, FundsIndia, according to a LinkedIn post.
WestBridge Capital is an active investor in the Indian startup space. The firm had led funding for a couple of other startups last year, including government test prep platform Adda247, edtech startup Sunstone Eduversity, last-mile logistics and transportation software provider HyperTrack, flexible workspace provider IndiQube, furniture and home decor platform WoodenStreet, and B2B fashion marketplace Fashinza.
WestBridge Capital invested about $90-95 million in airline operator IndiGo between January and March this year.
Founded in 2008, FundsIndia is an investment platform dealing with mutual funds, stocks, and other investment products with customers in over 2,000 cities across India and 66+ countries.