Mamaearth parent company becomes first unicorn of 2022 – Times of India

BENGALURU: Honasa Consumer, the parent company of Mamaearth, The Derma Co, and the House of Brands, has raised $52 million in a round led by Sequoia. The round saw participation from Belgium-based Sofina Ventures, and Evolvence, a UAE-based India-focused fund. With the latest funding, Mamaearth parent has become the first unicorn of 2022, valued at $1.2 billion. The round also gave employees an opportunity to monetise their vested employee stock ownership plans (ESOPs).
The company plans to use the funds to expand the portfolio of personal care D2C (direct to consumer) brands, expand distribution for existing brands, and explore strategic inorganic growth opportunities in the beauty and personal care segment.
Varun Alagh, co-founder and CEO of Honasa Consumer, said, “We have been on a constant quest to becoming a company that is the first choice of evolving Indian millennials in the beauty and personal care segment. Our flagship brand, Mamaearth, has established itself as a leader in D2C personal care.” Ghazal Alagh, co-founder and CIO, said millennials’ personal care concerns are dynamic and, “with our D2C approach, we are updated on the changing consumer demands”.