Honasa Consumer is a parent company of The Derma Co and Mamaearth personal care brand. Honasa Consumer is a consumer goods company that specializes in e-commerce and online shopping. Mamaearth provides its consumers with baby, skincare, hair, and other products. The Derma Co produces goods for skin and hair care.
The funding round Series F was led by Sequoia Capital’s Sequoia Capital Growth Fund III. New funds will be used for the business expansion. The money raised led the company to the unicorn status. Honasa Consumer became the 45th unicorn in India this year.
Honasa Consumer, from India, was founded by Varun Alagh and Ghazal Alagh in 2016. As of now, the company has a 140-product brand portfolio under Mamaearth and a 40-brand one under The Derma Co. Honasa Consumer aims to become the house of brands by aggressively acquiring companies. For example, it has already acquired Momspresso and MyMoney, Momspresso’s influencer engagement platform. They are going to increase brand growth, expand offline presence, as well as explore inorganic growth opportunities.