Coimbatore-based organic skin and personal care brand Juicy Chemistry on Friday announced it has raised $6.3 million in a Series A funding round led by Belgium-based investment firm Verlinvest.
This marks the largest Series A raise in the D2C beauty and personal care space, according to the press release. Veda Corporate Advisors was the exclusive financial advisor for the transaction.
Speaking about the development, Pritesh Asher, Co-founder and CEO of Juicy Chemistry, said,
“It is an incredibly exciting time for us. The investment will enable Juicy Chemistry to further strengthen its position as a leader in the clean and organic beauty segment. We are keen to leverage this capital for the rapid expansion of Juicy Chemistry’s thriving ecommerce 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.”
Starting from a 10×10 make-shift kitchen with Rs 5,000 and a dream to change how the beauty and cosmetics industry was perceived in India, Juicy Chemistry was founded in 2014 by husband-wife duo Megha and Pritesh Asher.
Bootstrapped until 2019, the startup offers a complete range of certified organic products across face, body, and hair care. It claims to offer a 100+ product range of natural and organic skincare products consisting of cleansers, moisturisers, floral waters, gourmet soaps, hair masques, baby massage oil, cold pressed oils, and lots more in relation to face, body, hair, and aromatherapy and kids’ products.
“It’s a privileged position for us to be in as this new round of funding from the strongest purpose-led, consumer-focused investor will tremendously accelerate our expansion plans and help us penetrate the market deeper and reach more consumers to spread the message of Organic beauty care. We look forward to building the brand full steam ahead keeping the core ethos and values unaltered as we scale the business over the next phase,” added Megha Asher, Co-founder and COO of Juicy Chemistry.
Commenting on the investment, Arjun Anand, Executive Director, Verlinvest, stated,
“Verlinvest looks for authentic and passionate entrepreneurs who are creating a consumer revolution using their product and brand stories and we saw like-mindedness with the way Pritesh and Megha are building their business. We are very happy to partner with Juicy Chemistry and will support its development in the years to come.”
Founded in 1995, Verlinvest is a global investor focused exclusively on consumer brands, which has an extensive portfolio of consumer brands – both online and offline and its current Indian portfolio includes brands such as BYJU’S, Sula Vineyards, Epigamia, Veeba Foods, Purplle.com, Wakefit, and Future Consumer Limited.