Mother Sparsh co-founders Himanshu Gandhi and Rishu Gandhi
').insertAfter(".article-content__img");$(".article-content__img div").find('div').remove();
Topics
ITC | Companies | FMCG firms
Mother Sparsh co-founders Himanshu Gandhi and Rishu Gandhi
').insertAfter(".article-content__img");$(".article-content__img div").find('div').remove();
FMCG conglomerate ITC Limited has made its second investment in premium baby and mother care brand Mother Sparsh, infusing Rs 13.5 crore. The baby care brand has declared that it is in advanced discussions of securing Series B funding between Rs 90-100 crore shortly.
Mother Sparsh plans to use the Series B funds to enhance R&D and foster innovation in the critical baby and mom care segment alongside sustained product portfolio diversification, the firm said in a statement.
The company intends to enhance its portfolio significantly, especially across the baby skin care and mother-oriented segment.
“An intrinsic innovative streak as a brand and the ethos of crafting products on a need-based proposition by the virtue of nature-oriented solutions is at the heart of Mother Sparsh. Our recurrent funding aims to strengthen this mission through R&D in the space while offering one-of-its-kind solutions for the needs of mothers and their little ones,” said Mother Sparsh co-founder and CEO Himanshu.
As a D2C brand, Mother Sparsh does a majority of its sales via online channels, including its own website, and offers a range of targeted personal care solutions for moms, infants and kids, the statement said.
This announcement has come on the heels of the brand’s foray into the diaper segment, which constitutes a major chunk of the baby care market, with the launch of Plant-Powered cloth diapers. The firm had also raised Rs 20 crore in Series A funding from ITC Limited last November.
Exclusive Stories, Curated Newsletters, 26 years of Archives, E-paper, and more!
First Published: Wed, October 19 2022. 14:46 IST
In the competitive landscape of the US banking sector, retaining depositors is paramount for lenders seeking to maintain... Read more
In the realm of banking, the ability to predict and prevent failures is paramount for financial stability and consumer c... Read more
In the evolving landscape of global financial markets, the strategic role of central banks has come under intense scruti... Read more
Author: Ricardo Goulart ... Read more
Author: Gerardine Lucero  ... Read more
When it comes to banking, a significant new contender has entered the ring. The principles of Islamic banking and financ... Read more