Portal for men's essentials The Man Company secures angel funding
The Man Company, a content- and subscription-based e-commerce platform for men's grooming and essentials, has secured an undisclosed amount from new angel investors, including Microsoft India's managing director Karan Bajwa, according to a press release.
Other investors include Amanpreet Bajaj, country manager - India of Airbnb (online community marketplace for people to list, discover and book accommodation around the world) and Manish Vij, founder CEO of SVG Media.
With the investment in the startup, the three angel investors have joined Mohit Saxena, co-founder and CEO of The Man Company, angel investor and co-founder Parvesh Bareja, co-founder and COO Bhisham Bhateja and TrulyMadly co-founder Hitesh Dhingra. Bareja is also MD of Helios Packaging Pvt Ltd.
Previously, Amanpreet and Hitesh had co-founded Letsbuy.com, which was boughtover by India's largest online retailer Flipkart in 2012.
"Market studies show that men are paying greater attention to their grooming and personal care needs. However, availability of quality men's grooming products remains a challenge," said Mohit Saxena, co-founder and CEO of The Man Company.
"Coupled with the fact that buying grooming products is not a priority, subscribing to what customers need becomes a convenience. The Man Company seeks to fill this gap by offering a complete range of products on a subscription format," he added.
The male grooming market in India is expected to grow to Rs 5,300 crore by 2016, according to a study by Euromonitor International.
The Man Company offers products at the customer's doorsteps and also gives customers the control of subscription to customise their product basket to suit their needs, set the frequency of their order and revise or cancel their subscription any time.
The range includes shampoos, body washes, face washes, hair gels, shaving gels and soaps, it said in the statement.
Its blog 'The Man Mag' generates content around what men like to consume. Travel, relationships, technology, food, wine, auto, health and fitness are some of the topics around which content is aggregated.
Other subscription-based e-commerce companies include Fabbag and Enchantess which provide beauty, makeup and grooming products for women and men.