With a fresh round of funds, baby and mother care brand Mamaearth has entered the unicorn club. This Gurugram-based startup recently raised $80 million with Sequoia.
This is the second round of their funding in 2021. Before this, they raised $50 million by Sofina at a valuation of $730 million.
Mamaearth along with 42 companies have entered the unicorn club. That is on average 3 or more companies are gaming the valuation of $1 billion.
Varun Alagh and Ghazal Alagh’s venture started with only 6 baby products. Fast forward 5 years, and it has become India’s fastest-growing brand in the FMCG sector.
It has broken records not only in India but also in Asia. It became the only MadeSafe certified Asian brand to cross the Rs 100 crore mark in just 4 years.
In FY19, the brand’s operational revenue was only Rs 16.8 crore. In FY21, their annual revenue run rate stood at a whopping Rs 700 crore. This number is expected to reach Rs 2000 crore in the next 3 years.
Before this, the venture has raised $73.3 million from notable investors like Fireside Ventures, Shilpa Shetty, Stellaris Venture Partners and more.