[Funding alert] Mahesh Bhupathi’s personal care company Scentials raises nearly $6M from TIW PE
TIW Private Equity (TIW PE), has invested close to $6 million in Scentials Beauty Care and Wellness Pvt Ltd, a beauty and wellness company co-founded by former tennis professional and serial entrepreneur Mahesh Bhupathi along with Jinesh Mehta.
With this funding, Scentials said it plans to expand its product offerings and strengthen its distribution network across the country. This is the second fundraise by Scentials. It has previously raised financing from Unilever Ventures, the venture capital arm of global FMCG major Unilever.
“Building beauty businesses with influencers has created a lot of value in the west and after Unilever Venture, we are proud to have TIW believe in this opportunity in India and will continue exploring growth categories,” said Scentials’ Co-founder Mahesh Bhupathi.
“This fundraise will enable the company to accelerate growth with increased investments and entry into new categories,” added Pawan Chaturvedi, Investment Director - Asia at Unilever Ventures.
Founded in 2017, Scentials designs, develops, manufactures and distributes products through multiple celebrity-backed brands across deodorant, fragrances and skincare categories.
“The company offers a unique and powerful value proposition with brands envisioned by top celebrities and superior quality products crafted by a team of specialists. We are confident that the business can grow exponentially from here on to become India’s leading personal care business,” stated Mohit Ralhan, Managing Partner and Chief Investment Officer at TIW PE.
TIW Private Equity is an India-based, sector agnostic, private equity fund. It focuses on consumption-driven sectors and domestic demographic dividend to drive superior alpha returns. Few of its focus sectors are FMCG, manufacturing consumption, digital consumption, real estate services, financial services, auto ancillary, speciality chemicals, pharma, food and agri etc.