Nat Habit raises Series B round led by Bertelsmann
D2C beauty and wellness brand Nat Habit has raised $10.2 million in a Series B round of funding led by Bertelsmann India and other investors. The brand is eyeing an omnichannel play starting with Delhi.
Direct-to-consumer (D2C) beauty and wellness brandhas raised $10.2 million in Series B funding led by Bertelsmann India Investments (BII). The round also saw participation from Amazon India Fund, Mirabilis Investment Trust and Sharrp Ventures, apart from returning investor, Fireside Ventures.
The round includes nearly $2 million of secondaries with early-stage investors including Whiteboard Venture Partners and angel investors.
The Delhi-headquartered startup will utilise the funds to expand its R&D and product development, as well as for brand building and hiring new talent.
“We are also looking to expand our offline presence starting with Class A and B cities. We will launch Delhi first, followed by Bengaluru and Bombay,” Swagatika Das, Founder at Nat Habit, told YourStory.
Founded in 2019 by Das and Gaurav Agarwal, Nat Habit had last raised $4 million in a Series A round of funding led by Fireside Ventures in 2022. The brand is known for its “natural” formulations made from fresh ingredients such as milk, fruits and herbs. It currently has 35 product lines and ships 15,000 units per day to 14 lakh customers.
“Nat Habit has taken personal care to a new level by offering fresh products using proprietary techniques and natural ingredients,” Pankaj Makkar, Partner at Bertlesmann, said in a statement. He added, “This investment is a sign of our confidence in Nat Habit's potential and our relationship with its founders.”
At an ARR (Annual Recurring Revenue) of Rs 82 crore, Nat Habit wants to target an ARR of Rs 350 crore over the next two years.
“We have on-boarded strategic investor Sharrp Ventures who bring learnings from Marico and a deep understanding of supply chain. The investment from Amazon is a much bigger synergy as nearly 30% of our business comes from the platform and we work closely with the team on category development and decluttering our selection,” added Das.
Nat Habit is a part of the growing beauty and personal care market in India which is estimated to touch $30 billion by 2027, according to a report by Redseer Strategy Consultants and Peak XV. The sector has seen Honasa Consumer, the parent entity of Mamaearth and other brands, go public earlier this year. Other competitors include WOW Skin Science and mCaffeine.
Edited by Kanishk Singh