New Delhi, Feb. 6 -- Women's wellness and hygiene brand Nua has raised Rs 35 crore ($4 million) in a pre-Series C round led by Mirabilis Investment Trust, the family office of Infosys Ltd co-founder K Dinesh.
The round also saw participation from angel investors including Samir Singh, executive vice president for Asia at Colgate Palmolive; Shuchi Kothari, head of DSP Family Office; and SRF Ltd.
The company has raised $21.5 million so far, including the current round. Its investors include venture capital firm Lightbox, Kae Capital, actor Deepika Padukone and former global president of Unilever, Vindi Banga.
"The past 12 months have been exceptional for Nua. Not only have we turned profitable but we have also grown over 2.5x in revenue," said Ravi Ramachandran, chief executive officer and co-founder, Nua.
Ramachandran said the company became profitable in the second quarter of the current fiscal year, crossed Rs 100 crore in net revenue run rate during Q3 and is now on track to reach Rs 150 crore in net revenue run rate in the next quarter.
The company plans to use the funds towards retail expansion and new product introductions across key channels such as marketplaces, quick commerce and offline retail. "The capital raised in the current round will accelerate our journey to achieving the growth milestones we have set for ourselves. The company will also invest in new products, content and emerging channels to accelerate this momentum over the next six to eight quarters," said Ramachandran.
Over the last 12 months, the company has added new product segments in the female hygiene segment. Its products are available on its website as well as on e-commerce platforms such as Zepto, Amazon, Flipkart and others.
For Mirabilis, this is its second investment in as many weeks. Last week, the family office invested in Emiza Supply Chain Services as part of a Series C round along with alternative investment firm Evolvence.
Srinivas Seshadri, head of investments at Mirabilis, said that Nua has shown "a clear path to sustained profitability" and that its broad product portfolio and strong presence across channels position it very well in the marketplace.
Published by HT Digital Content Services with permission from VC Circle.