Direct-to-Consumer personal and home care products startup Clensta on Dec 9 said it has raised Rs 20 crore funding from Hem Angels part of Hem Securities Ltd, Venture Catalysts and Inflection Point Ventures. Existing investors N+1 Capital (RBF) and other investors also invested in this Series A funding round, Clensta said in a statement.
The funds raised will be used to scale up the company’s sales, ramp up brand marketing and expand Clensta’s online and offline presence across India. The brand has set a target of Rs 1,000 crore revenues in the next 5 years and claims to be growing at a CAGR of over 130 per cent.
The five-year old start-up founded by Puneet Gupta in 2016, started with the flagship products based on waterless products (waterless body bath and shampoo). Clensta is now tapping the D2C segment with its super cleansers filled with smart concentrates for household cleaning and plans to launch an innovative technology based personal care category.
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“Developing innovative technology has been one of Clensta’s foremost attributes ever since inception. Keeping in mind the Indian home care market size of $6.2 billion, we have adopted an omni-channel strategy to ensure Clensta’s presence in offline as well as online markets,” said Founder and CEO of Clensta, Puneet Gupta.
Dr Apoorva Ranjan Sharma, Co-founder and President of Venture Catalyst said, “Clensta’s innovative cleaning technology reduces usage of water to a great extent. Clensta’s entry into the D2C segment is likely to create a new category of personal and home care products. We are optimistic that Clensta will become a billion dollar tech-driven personal care brand in the next few years.”
“D2C wave is birthing many innovative and disruptive brands. Clensta takes the innovative further with the introduction of waterless tech in their products. Their understanding of the fast-growing D2C segment and a varied range of products in the personal care impressed our investors to lead this round,” co-founder of Inflection Point Ventures Mitesh Shah said.
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