Clean beauty startup Vanity Wagon has secured $2 Mn in its Pre-Series A funding at a valuation of $8 Mn.
The funding will be used by Vanity Wagon to strengthen its position in the industry and make brand-building investments. Additionally, the business will use the capital to expand its portfolio of private labels, offline retail, technology, marketing, and sales-driven tactics.
According to Vanity Wagon, the recent investment will enable it to partner with additional clean beauty companies, create an omnichannel presence, and broaden its geographic reach internationally.
The news comes almost a year after Vanity Wagon received $1 million in pre-seed investment from an Inflection Point Ventures-led group of investors.
A $200K seed fundraising round led by Agility Venture Partners was done prior to that. Sanjay Nagi and Dhianu Das from Alfa Ventures also took part in the round.
“Lotus has been India’s pioneer beauty brand synonymous with green, clean, ethical and natural products in skincare, haircare and makeup for three decades. I am excited about our new journey with Vanity Wagon-India’s largest e-commerce platform for clean beauty,” said Nitin Passi, chairman and managing director of Lotus Herbals.
Vanity Wagon is an online store for clean beauty products that is situated in Delhi and was founded in 2018 by Naina and Prateek Ruhail. It provides healthy beauty and wellness goods in a number of areas, including mom and baby items, cosmetics, body, hair, and face care.
In the next two years, the firm hopes to build a brand worth INR 500 crore. Using the brands it has bought, it also wants to five-fold its current revenues.
The round was co-led by Lotus Herbals and Agility Ventures Partners. Inflection Point Ventures, Venture Catalysts, and other high-net individuals (HNIs) also have participated in the funding round.
