Redcliffe Capital invests in SafetyKart Retail
SafetyKart moves private label brand and product PeeSafe to newly founded entity Redcliffe Hygiene
Latest News »
- Aadhaar case: Supreme Court refuses interim order against govt’s notification
- The Honor 8 Pro’s expected arrival should worry OnePlus
- Sitaram Yechury protests Union govt’s ‘Hindi imposition’
- Banking stocks fall on RBI’s mandate for higher provisioning
- India, US call for freedom of navigation amid South China Sea disputes
Gurgaon-based fund Redcliffe Capital on Wednesday said it has invested in an online retailer of safety and hygiene products, SafetyKart Retail while the company has moved its private label brand and product PeeSafe to a newly founded entity Redcliffe Hygiene.
“Redcliffe Capital has bought a 10% stake in SafetyKart.com and a sizeable share in Redcliffe Hygiene Pvt. Ltd with a board seat,” said Dheeraj Jain, managing director at Redcliffe Capital.
While the investment has gone to both SafetyKart and Redcliffe Hygiene, Jain did not disclose the absolute numbers.
“We have made $1 million commitment across milestones and phases of brand building (of products under Redcliffe Hygiene)” he added.
Founder of SafetyKart, Vikas Bagaria has joined the founding team of Redcliffe Hygiene and will be heading the venture, while SafetyKart will be led by a team of professionals.
The funds will be used for introducing a product range under Redcliffe Hygiene and making it available pan-India through its offline distribution channel.
Founded in February 2013, SafetyKart sells safety and hygiene products online across category such as healthcare, travel, and sports. Redcliffe Hygiene was founded in January 2017.
Having acquired PeeSafe, a toilet seat sanitizer spray, Redcliffe Hygiene will be introducing a range of products such as MoskitoSafe for safety from mosquito bites, GymSafe for unhygienic equipments at gyms, among others. These products will sell through not only SafetyKart, but also e-commerce platforms such as Amazon, Flipkart and offline retail stores.
The company claims to have sold over 50,000 units of PeeSafe in last 12 months, currently available in countries like Australia, Nigeria, Kenya and Singapore.
Redcliffe Hygiene plans to make it available in Middle East, Spain, Ghana and Malaysia in 2017, expecting to register Rs1 crore in sales by September as it scales to make PeeSafe and other products available country-wide through over 100,000 stores by June, added Jain.
Redcliffe Hygiene is targeting women in the age group of 18-35 years, residing in metro and tier 2 cities.
Another company that sells intimate hygiene products for women, First Step Digital Pvt Ltd, had raised Rs2.96 crore in pre series A round of funding from Indian Angel Network, Mint reported in March.