Redcliffe Hygiene Pvt. Ltd, which manufactures toilet seat sanitiser spray PeeSafe, has raised Rs 6.3 crore ($1 million) in a fresh round of funding from new and existing investors.
Redcliffe Hygiene raised the money by issuing compulsorily convertible debentures to the investors, it said in a statement.
The investors who came on board this time include Shivani Singh (vice president StarTV), Rahul Maroli (vice president Ola Cabs) and Mitesh Shah (chief financial officer BookMyShow).
Last July, the firm had raised a similar amount from Mumbai-based Venture Catalysts, Detroit- and Mumbai-based Alfa Capital, Green Shots Capital and Real Time Ventures.
Founded by the husband-wife duo of Vikas and Srijana Bagaria, PeeSafe is an isopropyl alcohol-based toilet seat sanitiser in the form of a quick-drying aerosol. Redcliffe Hygiene has also entered other sub-personal hygiene segments through products like GymSafe, PalmSafe and MoskitoSafe, according to the statement.
In April 2017, Gurgaon-based venture capital and special situation investment firm Redcliffe Capital made a strategic investment in SafetyKart.com, an e-commerce platform for safety and hygiene products operated by SafetyKart Retail Pvt. Ltd.
As part of the deal, Redcliffe acquired SafetyKart’s PeeSafe and moved the product line into a newly founded entity Redcliffe Hygiene Pvt. Ltd.
PeeSafe claims to have a presence in more than 1,000 modern trade and pharmacy chains as well as general stores.
The company, which claims to have sold 1 million pieces since its launch, also draws a big chunk of its sales from corporates which are subscribing to its washroom sanitisation programme.
PeeSafe is also said to be in advanced stage of discussions to raise $5 million from a few family offices who have a strategic interest in the sector. The round is expected to be closed by March this year.
Besides, the firm is also gearing up for its international expansion. While PeeSafe USA and PeeSafe South Africa will be launched in April, PeeSafe GCC is on track for launch next month.
Another startup operating in the hygiene and wellness space is PeeBuddy whose funnel-shaped female urination device helps women urinate while standing. The startup has secured a funding of Rs 2.96 crore from Indian Angel Network.
Ahmedabad-based startup Saathi produces biodegradable sanitary napkins made of banana fibre. The napkins are both skin- and environment-friendly. Leave Your Comment