Sirona Hygiene raised Rs 100 crore ($13.5 million) in funding by The Good Glamm Group. This is also one of the largest amounts invested in a Series B round for a DTC female hygiene start-up.
WHO: Founded in 2014 by Deep and Mohit Bajaj, Sirona Hygiene makes menstrual hygiene products, including herbal pain relief patches, degradable sanitary pads, and menstrual cup kits. It also offers a stand-and-pee device for women called PeeBuddy.
The Good Glamm Group is South Asia's largest content-to-commerce groups investing $100 million in innovative, fast-growing beauty and personal care brands. They are on a mission to build the global digital FMCG conglomerate of the future. Their portfolio consists of MyGlamm, POPxo, ScoopWhoop, BabyChakra, and Plixxo.
WHY: This strategic investment from the Good Glamm Group marks its entry into the hygiene category. In addition to raising fresh capital, Sirona will use the Group's proprietary digital assets to reach and educate women on the issues around feminine hygiene, providing a competitive edge to scale faster and scale while staying profitable.
IN THEIR OWN WORDS: "We had multiple term sheets from VCs and other strategic investors but the combination of money and immediate value which the Good Glamm Group offered was unparalleled. We have been profitable for the last 3 years and are growing steadily," Sirona Hygiene founder and CEO Deep Bajaj said.
"Not only have we invested in Sirona, Deep has also invested in the Good Glamm Group in his personal capacity. While the amount of funding in the Good Glamm Group is undisclosed, I can say the amount is sizeable. There is a partnership and synergy between the brands and their founders. It isn't a regular investor-investee relationship," said Darpan Sanghvi, co-founder and Group CEO, The Good Glamm Group.
"Sirona already has a Rs 75 crore run rate, and Deep and I have a strong vision of how we can get it to a Rs 500 crore run rate. This isn't easy in the menstrual hygiene category, especially with Sirona working to disrupt the category," said Darpan.
In a conversation with YourStory, Deep said, "Our aspiration is to keep disrupting in the category. We have had a strong alignment on values. It is not like we did not have the option to raise funding. We had multiple term sheets. But we wanted people who believe in the problem. Darpan's vision to disrupt his space and our vision aligned. We have been growing at 100 percent year on year. But the last two quarters have been interesting for us. We will be closing a Rs 100 crore run rate soon."
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