[Funding alert] Feminine hygiene products maker Sirona Hygiene raises $3M in Series A from NB Ventures and IAN Fund
Sirona Hygiene, makers of innovative feminine hygiene products like PeeBuddy and Sirona Menstrual Cups, on Tuesday announced that it had raised $ 3 million in Series A round from NB Ventures and IAN Fund.
According to the official statement, the fresh funds will be used to expand business and keep the focus on R&D as innovation remains at the forefront of Sirona.
Speaking about the new development, Deep Bajaj, Co-Founder, Sirona, said, ”We stand committed to solving unaddressed intimate and menstrual hygiene issues faced by women with our innovative products. This funding is a noteworthy milestone for us as we see it as an external validation of our work."
"We are thankful to NB Ventures, Dubai, and IAN Fund for believing in our mission to break the taboo around feminine hygiene issues. We are also thankful to our customers for supporting us through this journey. We hope to continue to disrupt this space with our innovative products. The money raised would be used to strengthen our position in existing channels and expand to newer markets," Deep said.
Founded in June 2015 by Deep Bajaj (CEO) and Mohit Bajaj (CFO), Sirona is an award-winning product innovation brand with a game-changing products portfolio that includes PeeBuddy, Sirona Feminine Pain Relief Patches, Sirona Natural Coloured Pads, Sirona Oxo Degradable Sanitary Disposal Bags, and Sirona Menstrual Cup Kit.
Sirona Menstrual Cup
In terms of performance, Sirona claims to have been growing 100 percent YoY for the past three years and that it has been profitable for the last three years. The brand also hosts a number of awareness camps on the importance of menstrual hygiene for under-privileged women and won two CSR awards last year for the same.
They have won awards like ‘National Entrepreneurship Award’ by the Ministry of Skill Development and Entrepreneurship, ET Startup of the year (Social Enterprise), Tie ‘Spirit of Manufacturing’, PhD Chamber of Commerce‘ Award for Excellence – Start-up’ etc. and recently made it to the Amazon Global Accelerator Program.
Commenting on the investment, Lead Investor from angel round, Vikas Kuthiala said, “Sirona has successfully developed a range of products that women of all age groups trust while addressing their regular intimate hygiene needs. The current investment should help further scale the distribution and market growth of the brand portfolio across India and beyond.”
Padmaja Ruparel, Founding partner, IAN Fund, said,
“Sirona is focused on the market for women-oriented products, a large and rapidly-growing category. And then, post pandemic, by adding a hygiene-focused product portfolio, Sirona has created a huge opportunity for itself. But the bet for us are the entrepreneurs of the company, and the belief in Deep, his vision to create a category-leader, and his passion and ability to scale the company to become a market leader.”
IAN Network was the first outside investment ($450,000) raised by Sirona in 2017, followed by a small bridge ($250,000) in 2019.