Honasa Consumer Pvt Ltd, the parent company of baby and mother care brand Mamaearth, has entered the unicorn club after raising $37.5 million in its Series F funding round led by venture capital firm Sequoia Capital.
Honasa Consumer has issued 839 compulsorily convertible preference shares (CCPS) at an issue price of Rs 33,85,049 to raise the aforesaid amount, according to the company’s latest regulatory filings. The capital raised will be used for business expansion.
Entrackr first reported the development citing that the fresh funds were raised at a valuation of $1.07 billion.
Mamaearth has become the 43rd Indian startup to enter the unicorn club in 2021. In July, the company had raised $50 million led by European investment firm Sofina Ventures. Sequoia Capital India also participated in the round that had valued the company at $730 million.
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 inception in 2016, Mamaearth has created a product portfolio of more than 120 products and claims to have reached over 5 million customers in 500 Indian cities.
The company crossed an annual revenue run rate of Rs 700 crore in the financial year 2021.
Earlier this month, Mamaearth had acquired woman-focused content platform Momspresso and its associated influencer engagement platform Momspresso MyMoney for an undisclosed amount.