Gurgaon-based The Moms Co has just raised an impressive sum of funding, according to a Times of India report. The startup has raised a whopping Rs. 6.5 Crore ($1 million) in its series A round funding, which was led by early-stage venture investors Saama Capital and DSG Consumer Partners.
Founded earlier this year, the startup which aims to provide ‘natural toxin free products’ to moms and moms-to-be is different from others in its segment as it produces its own line of products. Since starting up, the startup has been working rigorously on increasing its physical presence in the country and has already opened two stores in NCR.
According to a statement given by Malika Sadaani, one of the founders of The Moms Co., the money raised will be put to use for expanding customer base to 15,000 mothers by March 2018 and increasing its offline presence. She also added that the firm will also be utilising some part of the money for expanding their portfolio of natural, certified toxin-free skin and food products across more mom and baby care categories.
Though Moms Co is currently catering to a niche market in the Indian subcontinent, but the startup is hoping to bank on the potential user base that will come their way in the near future with disposable incomes among the urban population on the rise.
Commenting on his firm’s investment in Moms Co, DSG Consumer Partners Asia founder & MD Deepak Shahdadpuri said, “We had identified the mom and baby segment as a very attractive opportunity across personal care, food and nutrition. We believe The Moms Co’s focus on building a brand that is safe, natural and toxin-free will resonate with parents looking for high quality products.”
Saama Capital’s Ash Lilani also shared what made his firm invest in the Gurgaon-based startup. He said, “We believe that here is a huge unmet demand for higher quality and natural products for mothers and their families, and have seen our other portfolio companies like Raw Pressery, Sula Vineyards and Veeba Foods build significant businesses with a similar focus on product quality and customer experience.” Saama has earlier invested in startups such as Mobiliya, Bluestone and Chaipoint.
Moms Co had raised its last funding round around six months ago. Since raising that round, it has launched two product ranges for moms and moms-to-be.