Amishi Consumer Technologies Pvt. Ltd, which operates baby-care products startup The Moms Co., has raised $5 million (about Rs 35.44 crore at current exchange rates) in a Series B funding round.
Existing investors that participated in the round include early-stage venture capital firms Saama Capital as well as DSG Consumer Partners, the the Gurugram-based startup said in a statement.
The company said it will use the capital to become a Rs 100-crore brand within 18 months. It will also focus on enhancing its technological infrastructure, and expanding its product lines and offline presence.
“We are committed to making The Moms Co. the largest natural and certified toxin-free solution provider for moms and babies from India,” company founder and chief executive officer Malika Sadani said.
DSG Consumer managing director Deepak Shahdadpuri said the firm was confident in its recommitment to The Moms Co. because of its product development and its position in the mother- and baby-care segment.
The Moms Co. was founded in 2016. The startup offers natural products for pre- and post-natal care as well as babies. It has over 25 stock-keeping units, and says that it has served over five lakh customers across 10,000 pin code areas in the country. It also says that its products are formulated and tested to meet international safety standards.
The company had raised $1 million (around Rs 6.5 crore) in a Series A round of funding co-led by DSG Consumer and Saama Capital in September 2017.
Before that, in March that year, the firm had raised an undisclosed amount in seed funding from Shripad Nadkarni, a co-founder of food startup Fingerlix and beverages firm PaperBoat, Nestle executive Nandu Nandkishore and senior partners from McKinsey.
The Moms Co. is among a handful of startups focussed on the baby and mother personal care products segment. Perhaps the most famous among these is FirstCry, which in January this year raised $149.36 million (around Rs 1,096.94 crore) as part of the first tranche of a new funding round from Japanese tech conglomerate SoftBank. In November, FirstCry ventured into the pre-primary education segment by acquiring Oi Playschool.
Other players in the broader segment include Hopscotch, parenting social network Tinystep, parenting magazine ParentCircle and parenting platform BabyChakra.