THE WHAT? Juicy Chemistry has raised some US$6.3 million in a Series A funding round led by Verlinvest, according to a report published by Entrepreneur.com.
THE DETAILS The organic skin and personal care brand said that the sum amounted to the largest Series A raise in the D2C beauty and personal care space.
“The investment will enable Juicy Chemistry to further strengthen its position as a leader in the clean and organic beauty segment,” Co-founder and CEO Pritesh Asher told Entrepreneur.com. “We are keen to leverage this capital for the rapid expansion of Juicy Chemistry’s thriving e-commerce platform and omnichannel distribution capabilities, to reach new and existing geographies, to hire talent, for brand building, and to cater to the increasing demand for products both domestically and in the international market.”
THE WHY? Verlinvest Executive Director, Arjun Anand revealed that the Belgian investment firm was impressed with the Indian beauty brand’s loyal consumer following and its 300 percent revenue growth in past year.
“India is on track to become one of the largest beauty markets in the world. An increasingly conscious consumer is shaping the trend towards clean beauty,” fellow Verlinvest investment professional, Manvitha Janagam told Entrepreneur.com.