Gurgaon-based venture capital and special situation investment firm Redcliffe Capital has made a strategic investment in SafetyKart.com, an e-commerce platform for safety and hygiene products operated by SafetyKart Retail Pvt. Ltd, it said in a statement.
As part of the deal, Redcliffe acquired SafetyKart's toilet seat sanitiser spray PeeSafe and moved the product line into a newly founded entity Redcliffe Hygiene Pvt. Ltd.
“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, Redcliffe Capital.
"We have made a $1 million commitment across milestones and phases of the brand building of products under Redcliffe Hygiene,” he said.
SafetyKart’s founder Vikas Bagaria has joined the founding team of Redcliffe Hygiene and will be heading the venture.
SafetyKart, which was founded in 2013, will continue to offer safety products, mostly child and car safety offerings.
Besides PeeSafe, Redcliffe Hygiene will be introducing a range of products including GymSafe, PalmSafe and MoskitoSafe. These products will be sold online through SafetyKart and other e-commerce platforms as well as through the offline distribution channels.
Redcliffe Hygiene, which was incorporated last week, said its new product lines GymSafe and MoskitoSafe will be available through one lakh stores by the end of this quarter.
The company claims to have sold over one lakh units of PeeSafe toilet seat sanitiser spray over the past 30 months. The product is currently sold in countries such as Australia, Nigeria, Kenya and Singapore. Redcliffe plans to make the product available in the UAE, Spain, Ghana and Malaysia too.
Redcliffe Hygiene said it is targeting women in the age group of 18-35 years.
“PeeSafe is operating in the virgin territory of toilet seat sanitiser sprays. This is an exciting space as we are building a new category and PeeSafe has created an entry barrier with its high-quality product and easy availability," Jain said.
"Redcliffe Hygiene aims to be India’s leading FMCG company with a focus on female intimate care- and hygiene-related products. We aim to make Redcliffe Hygiene a Rs 1,000 crore company by the end of 2022,” he said.
Like this report? Sign up for our daily newsletter to get our top reports.