🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥
Login

News on Medial

Related News

Peak XV, others divest stake worth Rs 1,600 Cr in MamaEarth’s parent

EntrackrEntrackr · 1y ago
Peak XV, others divest stake worth Rs 1,600 Cr in MamaEarth’s parent
Medial

Peak XV (formerly Sequoia Capital), along with Stellaris Ventures, Sofina Ventures, and Fireside Ventures, collectively sold shares worth Rs 1,600 crore ($190 million) in Honasa Consumer Limited, the parent company of the direct to consumer (D2C) skincare and beauty brand MamaEarth. The aforementioned investors sold 3.24 crore shares of MamaEarth at an average price of Rs 495.48 per share, according to the company’s bulk deal data accessed from the National Stock Exchange. Peak XV and its former entity Sequoia Capital Global Growth Fund III divested around Rs 753 crore ($90 million) worth of shares, while Sofina Ventures, Stellaris Ventures, and Fireside Ventures sold shares worth Rs 298 crore, Rs 225 crore, and Rs 326 crore, respectively, during the bulk deal. Importantly, ICICI Prudential Life and Morgan Stanley collectively purchased Rs 262 crore worth of shares in MamaEarth. According to Entrackr’s estimates, MamaEarth sold 10% of its shares in this single bulk deal. The firm’s total outstanding shares stood at 32.42 crore as of June 30, 2024. The sale of shares came at a time when the Gurugram-based firm reached its all-time high share price of Rs 547 on Tuesday this week. As per NSE data, MamaEarth’s overall market capitalization stood at Rs 16,046 crore ($1.91 billion) as of September 12. In the first quarter of the current fiscal year, the company reported a 17.6% quarter-on-quarter increase in revenue, reaching Rs 554 crore, up from Rs 471 crore in Q4 FY24. This marked the firm’s most profitable quarter, with Rs 40 crore in profit after tax (PAT). Peak XV’s recent exit portfolio includes companies like Blinkit, Zomato, Freshworks, Awfis, Ixigo, Go Fashion, MamaEarth, and others.

At least 100 digital brands around Rs 100 cr revenue; they will benefit from going offline: Accel’s Prakash

Economic TimesEconomic Times · 1y ago
At least 100 digital brands around Rs 100 cr revenue; they will benefit from going offline: Accel’s Prakash
Medial

Direct-to-consumer (D2C) brands, primarily operating online, have an opportunity to expand into offline stores despite the growth of the Indian retail market. A joint report by venture fund Accel, Fireside Ventures, and market research firm Redseer revealed that 90% of the Indian retail market will remain offline, making offline expansion an attractive prospect for D2C brands. While being online-first allows for quicker product-market fit and brand building, reaching a certain scale and brand recognition can lead to offline expansion to boost sales. Venture firms are investing in technology that enables efficient and aggressive offline expansion for online-first brands.

Urban Harvest acquires gourmet food brand Cocosutra

EntrackrEntrackr · 1m ago
Urban Harvest acquires gourmet food brand Cocosutra
Medial

Urban Harvest acquires gourmet food brand Cocosutra B2B fresh-produce and food supply startup Urban Harvest has acquired premium gourmet food brand Cocosutra in a Rs 2.5 crore all-cash transaction, aiming to expand into value-added food categories and strengthen its presence within the restaurant and HoReCa segment. The acquisition adds gourmet, high-margin products to Urban Harvest’s portfolio, leveraging its existing restaurant demand base for rapid scaling. Urban Harvest stated that the integration is already progressing, with complete consolidation of systems, teams, and operations expected within the next two months. Founded as a gourmet food brand, Cocosutra operates in the premium packaged food segment. Post-acquisition, Urban Harvest plans to enhance Cocosutra by expanding distribution, optimizing price competitiveness via supply chain efficiencies, and improving unit economics with its existing procurement and logistics network. Urban Harvest reported that Cocosutra’s business has experienced a threefold growth since the acquisition process commenced, benefiting from access to a broader customer base and enhanced backend operations. The company anticipates Cocosutra to evolve into a Rs 100 crore revenue brand within 24 months, aided by Urban Harvest’s restaurant relationships and B2B distribution infrastructure. Urban Harvest functions as a B2B supplier of fresh produce and food products to restaurants, cloud kitchens, and foodservice businesses. The company did not mention any changes to Cocosutra’s brand positioning, confirming that the brand will maintain its current identity while being fully integrated into Urban Harvest’s platform.

Download the medial app to read full posts, comements and news.