[Funding alert] Organic cosmetics startup Cosmeto Food raises Rs 1 Cr from Risers Accelerator fund
Mumbai-based Cosmeto Food Organic Pvt Ltd, a startup that provides organic handmade skin care products, has raised Rs 1 crore in funding from Risers Accelerator. Valued at Rs 20 crore, Cosmeto has been operating pan-India and exports to about 35 countries.
Started in 2016 by Himanshu Chadha, Cosmeto Food makes skin products from plant-derived and other natural ingredients. These ingredients are grown without the use of pesticides, herbicides, synthetic fertilisers, GMO and so on, and often come with an organic certification.
The startup aims to use the funding for product distribution.
Himanshu Chadha, Founder, Cosmeto Food Organic Pvt Ltd, said,
"Our products are proudly free of paraben, animal by-products, silicon, mineral oils, toxins, alcohol, and other harsh cosmetic chemicals, and are safe to be tasted as well. Since they are made of almost 100 percent natural ingredients, you might mistake them for natural food because of their appearance and texture. And yes, they are all taste-able.”
The startup said in an official statement that its products are made from ECOCERT-certified organic ingredients with tested and authenticated proven formulations.
"Our products are based on our years of expertise. These offerings bring immense beautifying and healing effect for [glowing] skin without any side effects," Himanshu said.
Pravin Khandelwal, who is the Leadership and Motivation Director with Risers Accelerator, and Rachit Chawla, Director, Finance and Technology, at Risers Accelerator, said: “We have valued Cosmeto Food Organic at about Rs 20 crore, and are in talks with the promoters to invest seed capital. We will mentor them for distribution and digital marketing.”
Risers Accelerator aims to provide adequate financial, infrastructural, and knowledge support to potential startups. It is determined to add Rs 3,00,000 crore to the country’s GDP by 2025.
As per a report published by Market Research Future (MRFR), the global natural and organic cosmetics market is predicted to touch $25,100 million by 2023.