Mamaearth to raise $80-100 million, be valued at $400 million: Report

Existing investors in Mamaearth are Fireside, Sequoia India, actor Shilpa Shetty Kundra, Kunal Bahl (Snapdeal), Rohit Bansal (Snapdeal), Stellaris Ventures and Rishabh Mariwala (Marico).

Mamaearth is looking to raise $80-100 million (between Rs 600-750 crore) from existing investors in a new funding round, said to be led by Fireside Ventures and Sequoia Capital, sources told The Economic Times.

The fresh capital infusion will value the five-year-old personal care brand at $350-400 million, sources said.

“The investors are bullish about the company’s growth prospects and would want to double down on their investment,” one source added.

Moneycontrol could not independently verify the report.

Existing investors in Mamaearth are Fireside, Sequoia India, actor Shilpa Shetty Kundra, Kunal Bahl (Snapdeal), Rohit Bansal (Snapdeal), Stellaris Ventures and Rishabh Mariwala (Marico). The company has raised over $23.3 million till date.

Mamaearth, Fireside and Sequoia did not respond to queries, as per the report.

The brand focuses on online sale of personal care products with physical presence in select cities such as Delhi, Kolkata, Mumbai, Pune, Nagpur and Chennai.