Honasa Shopper, a shopper items firm based mostly in Delhi, raised a $37 million Sequence F spherical led by enterprise capital agency Sequoia Capital, turning into the newest Indian startup to achieve unicorn standing.
The funding spherical values the startup at $1.07 billion, in accordance to estimates by Indian information web site VCCircle. Honasa beforehand raised $50 million in July led by Sequoia Capital and Belgium-based funding firm Sofina Ventures, greatest recognized for its investments in Indian edtech billionaire Byju Raveendran‘s Byju’s and Indian craft beer model Bira 91.
Honasa is the forty fifth startup in India to attain unicorn standing this 12 months, in accordance with Indian information outlet Mint. Earlier this week, GlobalBees, a nine-month-old startup based mostly in New Delhi, additionally joined the unicorn membership after elevating about $110 million in Sequence B financing led by Premji Make investments, the funding agency of Indian billionaire Azim Premji.
Honasa—whose identify stands for sincere, pure and secure—is greatest recognized for working the newborn and wonder care model Mamaearth. A few of Mamaearth’s greatest sellers embrace vitamin C and turmeric face wash, onion hair oil and tea tree shampoo. Their merchandise are endorsed by notable Bollywood actresses similar to Sara Ali Khan and Shilpa Shetty.
The startup was based by the husband-and-wife group of Varun and Ghazal Alagh in 2016. Varun is a shopper items veteran, who labored at Coca-Cola, Diageo and Unilever, whereas Ghazal is a serial entrepreneur. Earlier than Honasa, Ghazal based Dietexpert, a startup customizing food regimen plans for shoppers.
Honasa Shopper additionally operates the Derma Co., one other private care startup catering to women and men. The Derma Co. sells its merchandise by itself web site in addition to Amazon, Flipkart and Nykaa, an Indian e-commerce firm based by India’s second-richest self-made girl Falguni Nayar.