Amishi Consumer Technologies, the parent company that operates mother and baby care brand The Moms Co, has raised $8 million (Rs 58.4 crore at current exchange rates) in a Series B round of funding led by its existing investors Saama Capital and DSG Consumer Partners.
Shripad Nadkarni, co-founder of food startup Fingerlix and Ashutosh Valani and Priyank Shah, co-founders of Beardo, also chipped in, the company said in a statement.
With the fresh infusion, the Delhi-based startup targets to create an Rs 100 crore direct-to-consumer (D2C) brand with 5 million consumers. It also aims to launch more products, expand into newer retail formats, invest in technology and go international over the next two years.
Currently, The Moms Co claims to have over one million customers.
“With this fundraise, we continue our purpose of helping moms with safe, natural effective solutions and are looking forward to expanding our mission with the next 5 million moms trying The Moms Co. and feeling the difference for themselves while taking care of the environment,” Malika Sadani, founder and CEO, The Moms Co., said.
Founded in 2017 by Sadani, the omnichannel startup offers natural products for pre and post-natal care, mom personal care and baby care. It has diversified its offerings across categories such as face care, hair care, and others, with over 30 stock keeping units. The brand has a physical presence in five cities across India.
The products are formulated and tested to make sure they are toxin-free and meet international safety standards across the US, Canada, Europe, Japan and Australia, the company claimed.
The startup has raised over $17 million till date. In its last round, it had secured $5 million from venture capital firms DSG Consumer Partners and Saama Capital, according to data from VCCEdge.
Another player in the personal care products space is Sequoia Capital India backed Mamaearth. The company, which recently raised $18 million, began its journey in 2016 by selling baby care products before expanding its portfolio.