[Funding alert] Snapdeal founders Kunal Bahl and Rohit Bansal lead pre-Series A round in Azah
Gurugram-based women wellness startup Azah on Wednesday announced that it has raised an undisclosed amount in a pre-Series A funding round from Snapdeal founders Kunal Bahl and Rohit Bansal, AngelList India, and a few other HNIs. The lead funding came from Titan Capital, a VC-arm run by Kunal and Rohit.
In a statement, Azah said it plans to use the procured funds to enhance its production, launch new products, and expand sales operations in Tier II and III cities.
Aqib Mohammed, Co-founder, Azah, said,
"The funds will help us continue further on our mission to make a woman's period easier by developing products that truly solve her problems. A good portion of the funding will go into research and development of these new products, while also helping us carry out further innovation in our current product line."
He added that the company will also use the funding to expand its reach to newer demographics while exploring alternative channels to drive growth and acquisition. Azah plans to double its monthly revenue by the end of the next quarter, he shared.
Co-founded by young entrepreneurs Shashwat Diesh and Aqib Mohammed in 2018, Azah aims to be a one-stop solution for high-quality women hygiene products in India. The startup claims to have been growing at a rate of 30 percent month-on-month, with more than 50 percent of its revenue coming directly from repeat customers.
With a reach extending to 4000+ pincodes across India, Azah said it gets regular orders from the Northeastern states including Arunachal Pradesh and Tripura.
Shashwat Diesh, Co-founder, Azah, said,
"The female wellness sector seems to be particularly open to disruption because of the relative lack of innovation over the past couple of decades. Due to increasing consumer awareness around menstrual hygiene, people have begun to demand better products, and newer homegrown brands have stood up well to the challenge of fulfilling this need, and that's where Azah comes up."
Prior to this, Azah had raised seed funding of $200,000 from the group of angel investors to expand the business and optimise its supply chain management.
Prakhar Agarwal, Investments Lead, AngelList India, said, "The founders have done a great job of building a brand that resonates with its customers, and I look forward to the new products they intend to add to their offerings with this round of financing.”
In an another development, JobSquare, a recruitment platform, has also announced that it is raising a funding of Rs 1 crore from Titan Capital. JobSquare said the Rs 1 crore investment from Titan Capital will take the total investment received so far to Rs 3 crore.
This July, New Delhi-based ecommerce company Snapdeal secured an undisclosed amount of funding from Anand Piramal, Executive Director of the Piramal Group. This investment has been made by Anand in his personal capacity, the company had said in a release.
(Edited by Athirupa Geetha Manichandar)