[Funding alert] Luxury Ayurvedic beauty brand Just Herbs raises $1.5M in Pre-Series A round, led by Roots Ventures
Luxury Ayurvedic beauty brand Just Herbs, on Tuesday, said that it has raised Pre-series-A funding of $1.5 million led by Roots Ventures.
The company said that a clutch of family offices, high net-worth individuals (HNIs), and corporate executives also participated in the maiden round of equity.
Just Herbs plans to use the funds to expand its product range, boosting distribution, and for new customer acquisition.
Gurugram-based Wealth Management and Investment Banking firm Client Associates advised the company on this financing round.
Speaking on the investment, Japan Vyas, Founder of Roots Ventures, said,
“Conscious consumption is a very strong theme in beauty and Just Herbs with its sharp focus on product quality and customer engagement has all the right ingredients to become a leading player in this space.”
Launched in November 2013, Chandigarh-headquartered Just Herbs (under parent brand APCOS Naturals Private Ltd.) is a direct-to-consumer, Made-in-India, Ayurvedic beauty brand with over 70 products for skin, hair, bath and body, and natural makeup.
It claims to be developing its products by crowdsourcing customer-feedback via its devoted fan-base of users through social media.
“Japan and team Roots’ impressive track record as investors in the consumer space makes this association far more valuable than just capital. We wanted partners who can provide not just growth capital but are also completely aligned with our long-term vision for the brand. We look forward to embarking on this exciting journey together for the next leg of our growth,” added Arush Chopra, CEO and Co-founder, Just Herbs.
Just Herbs products are sold online on its own website in addition to online marketplaces. It also has four exclusive brand outlets in addition to point-of-sale counters at premium retail chains across India.
According to a recent study by the Confederation of Indian Industry (CII), the Ayurveda sector in the country has a gross market size of $ 4.4 billion, or roughly Rs 30,000 crore as of 2018 end.
Further, the Indian Ayurveda industry is projected to record a robust CAGR of 16 percent until 2025.
(Edited by Saheli Sen Gupta)