Feminine hygiene startup Sirona has raised INR 100 Cr (~$13.5 mn) in Series B funding from content-to-commerce startup Good Glamm Group. This round led to the exit of seed and angel investors in Sirona.
Founded in 2015 by Deep Bajaj, Sirona sells products that address feminine hygiene issues ‘from puberty to menopause’. Some of its products include PeeBuddy (a ‘stand and pee’ device for women to use in public restrooms), herbal pain relief patches, anti-chafing rash cream, period stain remover, oxo-biodegradable sanitary napkin and tampon disposal bags and a range of menstrual cups.
The startup claims to have sold over 1 Mn menstrual cups, 3 Mn units of PeeBuddy and more than 400k feminine pain relief patches.
“We have been profitable for the last three years and are growing steadily. We believe that the partnership with The Good Glamm Group, given their edge in terms of content and offline access will help us scale faster while staying profitable. We hope to soon hit the INR 100 Cr revenue mark. We hope to become the first startup in our category to hit INR 500 Cr revenue, hopefully within three years,” said Deep Bajaj, founder and CEO of Sirona.
The feminine hygiene products market in India was valued at INR 3266 Cr (~$431 Mn) in 2020 and is expected to grow at a CAGR of 16.87% between 2021 and 2025 to reach INR 7022 Cr (~$926.7 Mn) by the end of the period.
Growing feminine hygiene awareness coupled with increasing usages of modern hygiene products have contributed this segment to mature further along with government’s aligned initiatives to promote the same. Some of these government initiatives include Rashtriya Kishor Swasthya Karyakram (RKSK) and a tax exemption given to sanitary products after months of protest.
“Sirona has built a great business. Very few startups are able to grow profitably with innovative products in a taboo category with low capital. Feminine Hygiene segment, especially given the taboo around the category, is a tough one to pull off but needs far more intervention to make life simpler for Indian women. And we believe our ecosystem of content and creators will greatly increase the education and adoption of Sirona’s innovative hygiene products,” said Darpa Sanghvi, founder and CEO of Good Glamm Group.
According to the Good Glamm Group, this investment gives Sirona an opportunity to leverage the Good Glamm Group’s large audience base that includes 88 Mn annual POPxo users, 220,000 Plixxo influencers, 100 Mn ScoopWhoop users and Baby Chakra’s network of 20 Mn mothers and 10,000 doctors.
Earlier this month, Good Glamm Group had also acquired MissMalini Entertainment—an Indian celebrity media and influencer talent management network.
The post Good Glamm Group Invests INR 100 Cr In Feminine Hygiene Startup Sirona appeared first on Inc42 Media.
Source Link Good Glamm Group Invests INR 100 Cr In Feminine Hygiene Startup Sirona