Early-stage investment firm DSG Consumer Partners has invested in Singapore-based Ramblin’ Brands, leading a round in which the consumer goods maker raised nearly Rs 30 crore ($4.4 million).
Other investors in this round include Sven Mattsson, a former CEO of Swedish direct selling cosmetics company Oriflame.
Mattsson and Deepak Shahdadpuri, managing director at DSG Consumer Partners, will join the board of the company, which offers mainly sexual wellness products.
Ramblin’ Brands was founded in 2011 by Swedish entrepreneurs Mattias Hulting and Peder Wikstom. It markets products such as personal lubricants and massagers under their brand Smile Makers.
“Ramblin’ Brands has a unique approach to consumer goods. With Smile Makers, the company is revolutionising female sexual well-being,” Shahdadpuri said in a statement.
Besides Singapore, the items are sold in 11 markets such as the UK, France, Switzerland,
Israel, Malaysia and Thailand. The products are available through retailers such as Watsons and Superdrug as well as on their proprietary e-shops.
“Female sexual well-being is a fast-growing, multi-billion dollar category that has been completely mistreated by producers and retailers alike,” said Wikstorm over the reason behind launching the venture.
He estimated the size of the global sexual wellness market to be worth more than $20 billion, with an
annual growth rate of 7%. Personal massagers and lubricants make up for more than 22% of the market, and growing at more than 10% CAGR, he said.
DSG Consumer Partners has funded ventures such as Sula Wines, Mswipe, Veeba Food Services, ZipDial, OYO Rooms and EazyDiner in India.
The investment firm made the first close of its second fund at $35 million earlier this year. The fund made its first investment in cold-press juice brand Raw Pressery in February, when it participated in a funding round along with Sequoia Capital and Saama Capital.
The sexual wellness segment in the country hasn’t seen many deals in the recent past. Chaturbhuj Pharmaceutical Co., which retails sexual wellness products under the brand Japani, is looking to sell a majority stake.
The segment has seen the rise of several e-tailers such as Shycart, Thatspersonal and IMbesharam. Adult products e-store IMbesharam.com secured $4 million (Rs 27.2 crore) in Series A funding from two unnamed US-based angel investors in January this year.
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