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Peak XV, others divest stake worth Rs 1,600 Cr in MamaEarthโ€™s parent

EntrackrEntrackr ยท 1y ago
Peak XV, others divest stake worth Rs 1,600 Cr in MamaEarthโ€™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 companyโ€™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 Entrackrโ€™s estimates, MamaEarth sold 10% of its shares in this single bulk deal. The firmโ€™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, MamaEarthโ€™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 firmโ€™s most profitable quarter, with Rs 40 crore in profit after tax (PAT). Peak XVโ€™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: Accelโ€™s Prakash

Economic TimesEconomic Times ยท 1y ago
At least 100 digital brands around Rs 100 cr revenue; they will benefit from going offline: Accelโ€™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.

Exclusive: FableStreet parent FS Life to raise $4 Mn in Series B

EntrackrEntrackr ยท 18d ago
Exclusive: FableStreet parent FS Life to raise $4 Mn in Series B
Medial

Exclusive: FableStreet parent FS Life to raise $4 Mn in Series B FS Life, the parent company of D2C women's fashion brand FableStreet, is raising Rs 35.54 crore (around $4 million) led by Colossa Ventures with the participation of existing investor Fireside Ventures and others. FS Life, the parent company of D2C women's fashion brand FableStreet, is raising Rs 35.54 crore (around $4 million) led by Colossa Ventures with the participation of existing investor Fireside Ventures, HirePro Consulting, ASA Holdings, NKA Resources and other angel investors. This is the first fundraise for the company in 3 years since it raised Rs 50 crore in its pre-Series B round led by Fireside Ventures. The board at FS life passed a resolution to issue 10,282 Series B compulsory convertible preference shares at an issue price of Rs 34,568 each to raise the aforementioned sum, as per its regulatory filing with the Registrar of Companies (RoC). Colossa Ventures, through its Colossa WomenFirst Fund, will lead the round with an investment of Rs 10 crore, followed by Fireside Ventures with Rs 7 crore. ASA Holdings and HirePro Consulting will contribute Rs 3 crore and Rs 2.5 crore, respectively. A group of angel investors, including Rahul Garg, Rahul Kayan, and others, will also participate in the round. The company has already received Rs 9.44 crore from the above round in July from Fireside Ventures, Mirabilis Investment Trust, and others, with the remaining amount expected to be received soon. According to Entrackr's estimates, FS Lifeโ€™s valuation remained flat at Rs 370 crore or $42 million post-money. Founded in 2015 by Ayushi Gudwani, FS Life is a house of womenโ€™s apparel and lifestyle brands, including FableStreet, March Jewellery, and Pinkfort. FableStreet focuses on western wear with an emphasis on perfect fits, March offers sterling silver and semi-precious jewellery, while Pinkfort caters to modern Indian wear with a contemporary take on traditional styles. According to startup data intelligence platform TheKredible, the Gurugram-based company has raised over $9.5 million to date, with Fireside Ventures as its lead investor. The company is yet to disclose its FY25 financials. In FY24, it recorded over 40% year-on-year growth in operating revenue, while its losses widened by 70% to Rs 17 crore during the same period. FS Life competes with other D2C fashion and jewellery brands such as NEWME, which raised $18 million in July last year, as well as FabAlley, Fashor (ethnic wear), and jewellery startups like GIVA and Palmonas, among others.

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