Mamaearth, a skin and hair care brand, which started with the aim to provide toxin-free products is currently in the headlines. As per the news, Mamaearth IPO is to Open Before Diwali 2023. The company is said to be going for a valuation of Rs. 2000 crores and raising more money in the funding rounds. This article will share details about the valuation and fundraising plans of Mamaearth in detail. So if you want to know more, keep reading for more information.
Mamaearth to Launch IPO Before Diwali 2023: Date Revealed!
Mamaearth has been a 700 Crores valuation company since January 2023, the founders are said to be looking for a valuation of 2000 crores before Diwali. The company has several investors and the major one is Sequoia India who invested Rs. 130 crores for the first time in the company and is willing to invest more to reach the desired valuation. The other investors are venture capitalist firms and some angel investors. If we talk about Sequoia, is a major fundraising platform for Indian startups and has raised around $1.35 billion till now. Currently, Sequoia has shown the will to invest Rs. 150 Crores to Rs. 200 Crores again in the company growth.
Mamaearth’s Earnings
Mamaearth has monthly earnings of Rs. 30 Crores leading to a yearly earning of Rs. 360 crores. However, the company is going for a 6 times high valuation compared to its annual earnings.
Mamaearth was started by Gazal Alagh and Varun Alagh as an initiative to produce toxin-free products for skin and hair ranging from baby products to women’s and men’s products. Varun and Gazal’s son was facing some skin issues due to which the products available in the Indian market were harmful to his skin. The idea of toxin-free products caught their mind which reached high and became a unicorn company. The company deals in 80 products at the moment.
Mamearth Current Investors:
Mamaearth has different investors currently contributing to the company’s growth:
- Sequoia India
- Actress Shilpa Shetty Kundra
- Kunal Bahl and Rohit Bansal ( Snapdeal Co-founders)
- Stellaris Venture
- Fireside Ventures
- Rishabh Mariwala
Everyone is looking forward to the company’s growth status, whether they achieve the 2k mark or miss it. This will be 3 times the valuation growth of Mamaearth from 700 crores to 2000 crores in less than a year if they do it. We will update you with more information as soon as we know about it.