The funds will be utilised towards product research and development, inventory buildup and expansion of its product portfolio.
MCaffeine, a Mumbai-based caffeinated personal care brand, has raised USD 500,000 in its latest funding round.
The pre-series A investment round was led by Wazir Advisors, Let's Venture and Calcutta Angels. The funds will be utilised towards product research and development, inventory buildup and expansion of its product portfolio.
MCaffeine was launched in 2015 by Vikas Lachhwani and Tarun Sharma.
"We see a potential market in the young millennials, which we believe is underserved by the incumbent brands and products. Hence, we are looking to build a brand which reflects the millennial lifestyle and aspirations. MCaffeine is sensitive to the social message it communicates and does openly detest fairness products. Our aim is to make a compelling proposition in the consumer products market in order to drive our product and brand philosophy, " said Vikas Lachhwani, Co-founder of MCaffeine.
The company is digitally native vertical brand (DNVB) which sells on more than 20 e-commerce websites in India.
“MCaffeine as a brand has the pulse of the new generation. They understand the physical and emotional needs of their market. What they have been able to achieve in such a limited time is really commendable," said Harminder Sahni, Founder of Wazir Advisors.