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Millennium Babycares Ltd, which operates in the hygiene care sector, has secured Rs 122 crore in a private placement round.

The startup will use the funding to fuel its growth plans, including plant expansions and expanding its market presence through general trade and export channels.

The investment was led by Bharat Value Fund (BVF)—a Category II alternative investment fund launched by India Inflection Opportunity Trust in August this year with a targeted corpus of Rs 2,000 crore. BVF primarily targets pre-IPO investment opportunities in Indian growth-stage enterprises.

“With this private placement, we are confident that Millennium is well-positioned for a robust growth trajectory. We remain committed to our mission of delivering hygiene care products while expanding our market reach and enhancing value for our stakeholders,” Ramprakash Beria, Founder, Millennium, said in a statement. 

Founded in 2015, Millennium specialises in baby care, femcare, and adult care products. Its flagship brand Bumtum offers baby diaper products. The company also manufactures adult incontinence products under Elduro and femcare products under Freeme brand.

Equipped with state-of-the-art Japanese manufacturing lines, Millennium produces ultra-premium hygiene products for both Indian and international markets. Its manufacturing capacity is capable of producing 4 million baby diapers, 500,000 sanitary napkins, and 100,000 adult diapers daily.

It generated Rs 585 crore in revenue in FY24, a 53% compound annual growth rate over fiscal years 2020 through 2024, the company stated.

The company, with certifications like ISO, BIS, SEDEX, and GMP, offers packaging design, marketing support, after-sales services, and doorstep delivery.