Mumbai-based Nua, a female care brand, has raised $4 million in Series A round of funding led by Lightbox Ventures with contribution from te startup’s existing investor Kae Capital.
Operated by Lagom Labs, Nua — as a brand — creates products and services that revolved around women’s health and wellness. It currently makes sanitary pads and sells them online.
The Nua sanitary pads do not have prints, perfume or any chemical on the top layer, come in convenient disposable covers and are delivered as per the chosen frequency.
Founded in 2017, by Ravi Ramachandran and Swathi Kulkarni, Nua
aspire to be the leading online-led femcare brand by building a tech-enabled company that truly cares for every woman’s needs.
The funding, which marks Lightbox’s first investment from its $200 million third fund, will allow Nua to make investments in technology and data as well as in expanding its product offerings.
Prashant Mehta, partner at Lightbox, said to Business Standard, “I think in Nua, we found a team that has thought through how to create an amazing experience for women and do it in a manner that is delivering massively amazing value.”
“If you think about fem-care, there are already companies at the high end of the spectrum, you can always get very high-end products, but this team (Nua) really felt that it was important to bring care and wellness ideas to millions of women and not just the top echelon of women group,” said Mehta of Lightbox.
In August last year, Gurgaon-based Carmesi, which makes premium, all-natural and biodegradable sanitary pad, had raised $500,000 from Samrath Bedi, Managing Director, Forest Essentials, a luxury Ayurvedic beauty brand.
An another Sanitary Pad making startup called Saathi also provides affordable and bio-degradable sanitary pad made from waste Banana tree fiber and provide to women in rural India. The startup has recently selected in top 10 Innovative startups 2019 by Fast Company.
Source – Business Standard