The round has been led by RP-SG Ventures, with participation from other key investors including Apurva Salarpuria, LV Angel Fund, KRS Jamwal and Telama Investments.
mCaffeine, India’s 1st caffeine-infused skin and hair care brand, has raised $2 million in its Series A funding round from a consortium of investors.
The round has been led by RP-SG Ventures, with participation from other key investors including Apurva Salarpuria, LV Angel Fund, KRS Jamwal and Telama Investments. The round of funding has also seen participation from the existing investors, Harminder Sahni, Kaushal Aggarwal along with others.
At present, mCaffeine products are present in 3 major categories, including face care, hair care and body care. The brand presently has 10 products in its portfolio.
Tarun Sharma, Co-Founder & CEO, mCaffeine, said, “mCaffeine plans to penetrate the market aggressively by giving more emphasis to a customer-driven approach especially for the young millennials of India with mass premium offerings. Currently, our products are available at 18,000 pincodes across India. We will increase our online and offline presence substantially.”
Abhishek Goenka, Head of RPSG Ventures, stated, “Natural and organic personal care is amongst the faster-growing category in personal care with strong demand and large addressable market. However, it is increasingly getting cluttered with little or no real differentiation. We believe the ‘caffeine’ based sharp positioning of mCaffeine sets them apart, which is also reflected in their growth profile. The team’s focus on customer engagement and execution is excellent and we are very excited to partner with mCaffeine on this journey.”
Vikas Lachhwani, Co-Founder, mCaffeine, added, “mCaffeine is a digital-first brand focused on millennial India. All of the mCaffeine products are envisioned, engineered, designed and manufactured in India. The recently acquired funds will be utilized to further invest in research and development, expand distribution across digital channels and continue to grow our operations. Along with this, mCaffeine plans to expand its product portfolio to include 30 more products in the next twelve months.”