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Business News/ Companies / Start-ups/  Vanity Wagon raises 5.5 crore in pre-series A round
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Vanity Wagon raises ₹5.5 crore in pre-series A round

The funds raised will be used for further strengthening the tech platform, marketing, brand building, team expansion and private label acquisitions. Vanity Wagon also plans to expand its presence in the international market

The round also saw participation from Venture Catalysts, Lotus Herbals, existing investors Agility Ventures and a consortium of HNIs.Premium
The round also saw participation from Venture Catalysts, Lotus Herbals, existing investors Agility Ventures and a consortium of HNIs.

New Delhi: Online marketplace for clean beauty products, Vanity Wagon, has raised 5.5 crore in pre-series A round led by Inflection Point Ventures. The round also saw participation from Venture Catalysts, Lotus Herbals, existing investors Agility Ventures and a consortium of HNIs (advised by Instarto), the company announced on Friday.

The funds raised will be used for further strengthening the tech platform, marketing, brand building, team expansion and private label acquisitions. Vanity Wagon also plans to expand its presence in the international market.

Launched in 2018, Vanity Wagon currently is home to 151 brands such as Juicy Chemistry, Wow Skin Science, mCaffeine, Mama Earth, Blossom Kochhar Aroma Magic and Minimalist, among others.

Prateek Ruhail, co-founder and CEO, Vanity Wagon said that clean beauty products have taken the beauty segment by storm.

“This is driven by consumers’ demand to consume non-toxic beauty and personal care products. As brands in this segment continue to show robust growth, we see Vanity Wagon becoming a dominant marketplace in the clean beauty market in the next 2-3 years."

Vanity Wagon now caters to the Singapore market as well. While the total addressable market globally is expected to be $11 billion by 2027, the Indian market is pegged at $2 bn by 2025, the company said in a media release.

It added that it has recorded 4.5X growth in GMV and a 100% growth in partner brands since its seed round was raised in September last year.

“India's cosmetics market is likely to reach $28.9 billion by 2026. With this, the clean beauty market will also see double the growth. Growing disposable income will lead to the increasing purchasing power of women who are more conscious now and would prefer only non-toxic products which would not harm their skin. As Vanity Wagon is the market leader in organic products, we foresee its growth as a robust marketplace of natural beauty products," said Dhianu Das, founder, Agility Ventures.

Mitesh Shah, co-founder, Inflection Point Ventures said, “Modern age definition of beauty has moved far beyond fair skin. New-age brands are constantly challenging this norm and we have seen that many made-in-India beauty brands have proven that new-age women are looking for high efficacy products which are cruelty-free. Vanity Wagon’s growth has been exponential and the boom in D2C and online commerce in the beauty sector is going to empower the next level of growth for the company."

The founding team of Vanity Wagon includes Prateek Ruhail, Naina Ruhail and Sahil Shrestha.

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Published: 29 Oct 2021, 12:17 PM IST
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