mCaffeine has raised over INR 22 Cr by issuing Collection B Compulsorily Convertible Desire Shares (CCPS) and fairness shares to varied buyers
One of many buyers within the present spherical is RP-SG Ventures, which had additionally invested $2 Mn within the firm final yr
Until date, mCaffeine has raised $2.eight Mn in three funding rounds
Mumbai-based private care startup mCaffeine has raised over INR 22 Cr from a number of buyers.
In keeping with filings with the Ministry of Company Affairs accessed by Inc42, mCaffeine, via its guardian firm Pep Applied sciences Pvt Ltd, has issued 23,217 Collection B Compulsorily Convertible Desire Shares (CCPS) at a face worth of INR 10 per share and a premium of INR 9,507 per share to eight entities. Additional, the corporate has allotted 300 fairness shares with a face worth of INR 10 every and a premium of INR 28,541 per fairness share, to a few entities. Probably the most quantity of Collection B CCPS and fairness shares have been allotted to a few entities
- Amicus Capital Personal Fairness I LLP – 19,113 Collection B CCPS and 100 fairness shares, aggregating to a complete quantity of INR 18,47,53,521.
- Amicus Capital Companions India Fund I – 1,821 Collection B CCPS and 50 fairness shares, aggregating to a complete quantity of INR 1,87,58,007
- Milestone Trusteeship Providers Personal Restricted Trustee of RP-SG Enterprise Fund 1 – 1,653 Collection B CCPS and 150 fairness shares, aggregating to a complete quantity of INR 2,00,14,251
Total, the corporate has raised a complete quantity of INR 22,95,21,489 from numerous buyers.
Based in 2016 by Vikas Lachhwani and Tarun Sharma, mCaffeine is a private care startup which affords caffeine-infused pores and skin and hair care merchandise. At current, it affords 10 merchandise within the face, physique and hair care vary. It claims to have 5,00,000 clients.
Until date, mCaffeine has raised a complete of $2.eight Mn in three funding rounds.
The corporate’s final funding spherical got here in June final yr when it raised $2 Mn in a Collection A funding spherical by RP-SG Ventures, which can also be one of many buyers within the current funding spherical, via its trustee, the Milestone Trusteeship Providers Personal Restricted.
RP-SG Ventures is an early-stage client enterprise capital fund with investments throughout segments within the B2C ecosystem reminiscent of meals & beverage, private care and way of life items. The fund invests in early-stage client companies throughout their Seed A to Collection B rounds. Their present portfolio additionally consists of on-line retailers ‘The Souled Store’ and ‘ShopG’.
mCaffeine sells its merchandise on-line via its personal portal in addition to manufacturers reminiscent of Amazon and Nykaa. Final yr, the corporate added a inexperienced tea vary of merchandise and was reportedly concentrating on 1 Mn clients within the subsequent 12 months with an intention of recording INR 100 Cr accounting price of return (ARR).
Private Care Market In India
The private care market in India is ready to the touch $20 Bn by 2035 on the again of an increase in disposable earnings of the center class and rising aspirations of individuals to stay an excellent life and look good, based on ASSOCHAM.
With stiff competitors available in the market, which is anticipated to cross $3.5 Bn (INR 25,110 Cr) by 2022, mCaffeine continues to problem gamers reminiscent of Plum, Kapiva Ayurveda, and others.
