Vanity Wagon has secured $2Mn in its Pre Series A funding round with a post money valuation of $8Mn. The startup will use the funds to strengthen its position in the market and invest in brand building. Their goal is to become an INR 500 Cr brand within the next two years.
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Vanity Wagon Funding
Clean beauty startups Vanity Wagon has secured $2Mn in its Pre Series A funding round with a post money valuations of $8Mn. The round was co led by Lotus Herbal & Agility Ventures Partner. Inflection Point Venture, Venture Catalyst, and others High Network Individual have also participated in the funding round.
Vanity Wagon will use the fund to strengthen its markets position & invest in brand building. The startups will also deploy funds to grow its portfolio of private label, offline retail, technology, marketing & sales driven strategies.
Vanity Wagon said the current fundraising will help it onboard more clean beauty brand, build an omnichannel presence & expand its geographic footprint globally.
The development comes nearly a year after Vanity Wagon raised $1 million in its pre seed funding round led by Inflection Point Ventures.
Before that, it also secured $200K in its seed funding round led by Agility Venture Partners. Alfa Ventures Dhianu Das and Sanjay Nagi also participated in the round.
Lotus has been India pioneering beauty brand, synonymous with eco friendly, clean, ethical & natural skincare, haircare and makeup product for three decades. I am excited about our new journey with Vanity Wagon India largest e commerce platform for clean beauty, said Nitin Passi, President and CEO of Lotus Herbal.
Founded in 2018 by Naina Ruhail & Prateek Ruhail, Vanity Wagon is a clean beauty e-commerce marketplace based in Delhi. It offers clean beauty & wellness product in several categories, including body, hair and facial care, makeup & product for moms and babies.
The startups said it is looking to become an INR 500 Cr brand within the next two years. Furthermore, he aims to increase his sales by 5x using his acquired brand.
Our vision is to build a sustainable, legacy brand in the beauty segment that will only be strengthened by this investments. The beauty market and the e-retail market are going through an interesting time, where all the companies are trying to establish a presence in the market. We are definitely going to continue to strengthen our position in the clean beauty market, said Naina Ruhail, Co-Founder, Director and Co-CEO of Vanity Wagon.
The clean beauty startup claims to host more than 350 brands on its platform. Of this, 15% are international brands, she said. She further said that Vanity Wagon has launched five new international brands in India.
Clean beauty products, in essence, are products that are made from natural ingredients and contain no toxins. Recently, Indian customers prefer clean beauty products over chemically manufactured ones.
Beauty e-commerce startup Nykaa and Purple are some of the brands also operating in the Indian clean beauty space.
