[Funding alert] Bengaluru-based LAVAL raises pre-Series A round from Jazal Group
Bengaluru-based LAVAL, a luxury natural and organic skin, body and hair care brand founded in 2016, has raised an undisclosed amount in pre-Series A round from Jazal Group.
LAVAL was founded by Prithika Parthasarthy and Shrishti Parthasarthy who originally began researching the idea of building a wellness and skincare brand in 2013.
"We are built on the ethos of the Siddha tradition, Ayurveda, and aromatherapy principles and concepts of holistic wellness. It caters to all demographics and its products are tailored to have a global appeal. LAVAL has a history of Siddha practitioners and the potions formulated are meant to heal you internally and externally," said Prithika, Founder, LAVAL.
With the undisclosed pre-Series A round, the brand hopes to create a pan India presence through its website and on ecommerce portals. "We would also like to use our funds more on research and development of product formulation technology and setting up our own green manufacturing unit. We are striving to be farm to factory model and have a transparent supply chain," added Prithika.
Jazbel, Managing Director, Jazal Group said, “This is a momentous time for us at Jazal Group of Companies. LAVAL is an organic brand celebrated by connoisseurs of skincare from India, and it presents us with an immense opportunity to scale globally. This transaction is in line with our effort to cater to the aspirations of discerning customers from the lifestyle segments. We will extend our full support for Laval to reach its full glory in the international wellness and beauty landscape.”
Jazbel says that the Jazal Group will work closely with customers and employees from LAVAL to help it expand globally.
Avendus predicts that the D2C business will be a $100 billion market by 2025. India currently has 600 brands in the D2C category, with 16 companies having a revenue of more than $50 million.
Edited by Kanishk Singh