Honasa Consumer Pvt. Ltd., which operates fast moving consumer goods (FMCG) brand Mamaearth, has raised 130 crore–approximately $18.2 million–in its Series B funding round led by Sequoia India according to an article on VCCircle.
Existing investors Fireside Ventures, Stellaris Venture Partners and Sharp Ventures also participated in the funding round. Some of the exiting investors left the company with more than 20x returns on their investments, per the report.
Founded in 2016 by husband and wife Varun and Ghazal Alagh, Mamaearth, which is based in Gurugram, India, has a product portfolio consisting of toxin-free body lotions, rash creams, shampoo, body wash, massage oil and baby care products.