Nat Habit, a direct-to-consumer (D2C) beauty and wellness brand, has raised $10.2 million in a fresh funding round as it looks to focus on research and development, product development, brand building, and expanding its offline presence.
The current round follows the $4 million Series A round that was raised in April last year.
Who are the investors?
The Series B funding round was led by Bertelsmann India Investments (BII), with participation from existing investor Fireside Ventures and new investors, including Amazon India Fund, Mirabilis Investment Trust, and Sharrp Ventures.
What is the purpose of fundraising?
Apart from allocating funds for R&D and expansion, It will use approximately $2 million to provide exits to early-stage investors, offering them returns of nearly 4.5 to 5 times their initial investment over a four-year period.
Offering fresh ingredient-based products
Founded in 2019 by Swagatika Das and Gaurav Agarwal, Nat Habit is known for its fresh ingredient-based products like moisturizers, hair oils, lip scrubs, and face washes. It plans to expand its product portfolio and venture into offline sales channels.
The startup claims to be experiencing robust growth with an annual recurring revenue (ARR) of Rs 82 crore and aims to amplify this growth, targeting an ARR of Rs 350 crore in the next 24 months.
With a customer base of nearly 1.4 million and shipping 15,000 units per day, Nat Habit said it has a strong presence in Tier 1 and 2 cities, accounting for over 70% of its users.
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