[Funding alert] Venture Catalysts and 9Unicorns invest in clean personal care brand The Switch Fix
Gurugram-based The Switch Fix, that offers specialised plant-based products that are sustainable, has raised a seed round on Tuesday, led by Venture Catalysts, 9Unicorns, and Kushal Khandwala, Director of KIFS Group. According to the press statement, Venture Catalysts has made an investment of $145,000 in this round.
The startup stated that the clean and conscious personal care brand will utilise the funding to expand its product range
Founded in December 2018 by Abhishek Kumar and Rhea Shukla, Switch Fix produces and sells hygiene products such as soaps, shampoo bars, hair blends, and bamboo toothbrushes. Its product portfolio includes conditioners, scalp treatments, hair serums and essential skincare.
Speaking on the fund raise, Rhea Shukla, Co-founder and CEO, The Switch Fix, said,
“Our journey so far has been made possible due to our customers' desire to lead a sustainable lifestyle. There’s no doubt that sustainability is the future and we’re glad to be stepping into the future with 9Unicorns and Venture Catalysts.
With the funds received, we will further grow our tribe of climate warriors and make specialized and sustainable personal care even more accessible.”
Sharing his insights, Abhishek Kumar, Co-founder and COO, The Switch Fix, added,
“Most of the growth registered previously has been on the back of organic word-of-mouth from our loyal customers. We’re happy that through the funds acquired in this round, we will be able to add to our range of specialised products, increase awareness around the need to live sustainably and make the switch even simpler.”
Commenting on the investment, Dr. Apoorva Ranjan Sharma, Co-founder and President, Venture Catalysts, said,
“The Indian Hair Care Market is currently valued at $ 3.3 billion and is estimated to reach $ 5 billion by 2025, growing at a CAGR of 7 percent - 10 percent during the forecast period (2020 - 2025). Moreover, there is an ever-increasing demand for clean, environmentally-friendly, sustainable hair care products that cater specifically to the needs of Indian consumers. The Switch Fix is well-positioned to turn this high-potential opportunity into tangible success and we are pleased to offer them our support.”