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Beauty brand Asaya raises $1.5 Mn from OTP Ventures and others

EntrackrEntrackr · 1y ago
Beauty brand Asaya raises $1.5 Mn from OTP Ventures and others
Medial

Premium skincare brand Asaya has raised Rs 12 crore ($ 1.5 million) in Seed funding round led by OTP Ventures and Huddle Ventures, with additional investments from Eternal Capital. The funds will be allocated towards melanin-centric research and developing more products that cater to melanin-specific needs, the company said in a press release. Part of the funding will also be utilised to enhance market reach. Launched in September 2023 by Neeraj Biyani (former Co-founder of Paper Boat), Mandeep Bhatia, and Eeti Sharma, Asaya has rapidly expanded its sales and customer base, retailing through its website and online retail platforms like Nykaa, Amazon, Flipkart, and Myntra. Currently, it claims to have more than 11 products and 23 SKUs. According to Biyani, this funding will help us go from 20,000 to over 250,000 consumers in the next 12 months. Suhail Sameer, who is the former CEO of BharatPe, is serving venture capital firm OTP Venture as managing partner. As per a media report, OTP Ventures is also looking to close its debut fund at Rs 400 crore by June. The firm recently led $1 million round in CirclePe.

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Moxie Beauty raises Rs 17.3 Cr led by Fireside Ventures

EntrackrEntrackr · 11m ago
Moxie Beauty raises Rs 17.3 Cr led by Fireside Ventures
Medial

D2C haircare brand Moxie Beauty has raised Rs 17.3 crore or $2.1 million in a new round led by Fireside Ventures. The round also saw participation from a group of angel investors, including Samir Singh (ex Unilever CMO Personal Care, Chair Unilever Asia), Arjun Purkayastha, Suhasini Sampath (founder, Yoga Bar), Navin Parwal and Sangeet Agrawal (founders, Mokobara). In April last year, the Gurugram-based startup had raised $669K in its seed round from Amplify Partners, OTP Venture Partners and others. The new proceeds will be used towards product innovation and research, hiring talent, and expanding distribution channels. Launched by Nikita Khanna and Anmol Ahlawat, Moxie Beauty makes salon-quality hair care products that are tailored for Indian hair textures. Besides essentials like shampoo and conditioner, it offers leave-in products and styling products that help tackle dryness and frizz.

CirclePe raises close to $1 Mn in pre-seed round

EntrackrEntrackr · 1y ago
CirclePe raises close to $1 Mn in pre-seed round
Medial

Fintech startup CirclePe has raised close to $1 million in its pre-seed round led by OTP Ventures, with participation from 1947 Rise, iSeed, IIT Delhi, Venture Catalyst, and founders and CXOs from OfBusiness, BharatPe, Uni Cards, OYO, and others. Led by Navan Jaiswal and Ankur Yadav, CirclePe’s ‘Smart Renting’ solution allows credit-worthy tenants to opt for a zero security-deposit move-in, enjoying the luxury of paying only their monthly rent without any extra charges. By partnering with major proptechs, CirclePe is enabling the smart renting feature for independent retail landlords and co-living operators, providing an easy and hassle-free rental experience. By eliminating the need for heavy security deposits paid by tenants and unlocking capital for landlords and co-living operators, CirclePe aims to disrupt the traditional rental value chain. Suhail Sameer, who is the former CEO of BharatPe, is serving venture capital firm OTP Venture as managing partner. As per a media report, OTP Ventures is also looking to close its debut fund at Rs 400 crore by June.

Ice cream brand Go Zero raises $1.5 Mn

EntrackrEntrackr · 1y ago
Ice cream brand Go Zero raises $1.5 Mn
Medial

Ice cream brand Go Zero has raised $1.5 million in its follow-on pre-Series A funding round from DSG Consumer Partners, Saama, and V3 Ventures, among others. The round also saw participation from notable angel investors such as Arjun Purkayastha. Earlier in August last year, the startup had raised $1 million in its pre-Series A funding round led by DSG Consumer Partners, Saama, and V3 Ventures. Founded by Kiran Shah, Go Zero has a diversified product portfolio featuring low-calorie, high-protein, and vegan ice creams. The startup claims that all its products are sweetened with plant-based sweeteners, which are low in calories. Currently present in 16 cities and over 125 dark stores, Go Zero ice cream brand is available on both quick commerce and e-commerce platforms in less than two years of launch. In FY24, Go Zero claims to have grown 4X compared to FY23 and while it saw 7X growth on quick commerce in just 5 months this summer. Go Zero competes with Hocco and NIC. Last year, NIC had raised $11 million in a growth funding round led by Jungle Ventures whereas Hocco recently raised $12 million from Chona family and others.

Antithesis raises Rs 5 Cr in pre-seed round co-led by Rukam and V3 Ventures

EntrackrEntrackr · 3m ago
Antithesis raises Rs 5 Cr in pre-seed round co-led by Rukam and V3 Ventures
Medial

Antithesis, a beauty and personal care brand, has raised Rs 5 crore (around $582K) in its pre-seed round co-led by Rukam Capital and V3 Ventures. The proceeds will be used in growth plans as a digital-first beauty company, product innovation, and market and distribution channel expansion while also strengthening its brand presence in the personal care market. Founded by Aparna Saxena, Antithesis treats beauty and personal care products like technology products, allowing for continuous innovation and feature expansion based on consumer feedback and emerging trends. Rukam Capital, with a track record of backing high-growth consumer brands, has previously invested in brands like Beco, Sleepy Owl, Yoho, GO Desi, upliance.ai, and Indus Valley, amongst others. V3 Ventures is a founder-led early-stage fund backed by the Verlinvest group that invests in disruptive consumer companies across the globe, including Kuku FM, Go Zero, Dil Foods, Ugaoo, and Deconstruct.

Cleevo raises $1 Mn in seed round led by Eternal Capital

EntrackrEntrackr · 1m ago
Cleevo raises $1 Mn in seed round led by Eternal Capital
Medial

Home hygiene startup Cleevo has raised $1 million in its seed funding round led by Eternal Capital. The round also saw participation from Zeca Capital, DeVC, Utsav Somani (iSeed), Suhail Sameer (OTP Ventures), Sumit Jalan, Ajay Kumar (Action Tesa Group), Alok Mittal (Indifi), and members of the Venture Garage Network. The proceeds will be used in R&D, and grow across digital, B2B, and select international channels. Founded by Mayank Jain and Karan Shah, Cleevo develops concentrate-based cleaning products aimed at reducing packaging waste, shipping costs, and emissions. The brand offers non-toxic formulations produced at its in-house R&D and manufacturing facility. Its products are distributed through platforms including Zepto, Amazon, Flipkart, and the company’s D2C website. Jain has positioned Cleevo as a brand focused on low-waste formats and affordability. Cleevo’s floor cleaner concentrate is priced at Rs 350 for 5 litres, compared to Rs 800 for conventional products of similar volume.

Y Combinator-backed CureSkin raises $20 Mn led by Healthquad

EntrackrEntrackr · 1y ago
Y Combinator-backed CureSkin raises $20 Mn led by Healthquad
Medial

CureSkin, a beauty and personal care brand, has raised $20 million in a Series B funding round led by Healthquad. The round also saw participation from JSW Ventures, Khosla Ventures, and Sharrp Ventures. The company has raised $26 million to date including a $5 million Series A in March 2022. It was a part of Y Combinator Summer Batch in 2017. The new funds will be utilised to enhance AI capabilities further and broaden its range of solution offerings, CureSkin said in a press release. Founded in 2017 by Guna Kakulapati, Ramakrishna Rajanna and Dr Charu Sharma, CureSkin uses tech to analyze users’ skin conditions such as acne, hyperpigmentation, and hair loss with high accuracy and recommends a personalized treatment kit and care plan. The Bengaluru-based company has helped over 1.5 million users and uses more than 10 million skin pixels to determine up to 2,000 facial attributes to understand the concerns of users. Cureskin also said that about 80% of the company’s existing users are in tier II and III cities. Cureskin registered Rs 35.46 crore in revenue from operations in FY23 against Rs 2.57 crore in total revenue in FY22, according to startup data intelligence platform TheKredible. During the period, its losses also jumped to Rs 28 crore from Rs 2.57 crore. As of Series A round, the company’s chief executive Kakulapati had 28% stake in the firm followed by Rajanna who held 12% of the company. Among the investors, JSW Ventures had 10.4% stake whereas Khosla Ventures acquired 8% in the firm during the last round. Check TheKredible for more details. Cureskin competes with a clutch of companies including Clinikally, which was also a part of Y Combinator’s accelerator program and raised $2.6 million in September last year.

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