Mother Sparsh co-founders Himanshu Gandhi and Rishu Gandhi
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Mother Sparsh Gets Second Investment From ITC, Eyes Rs 100 Cr In Series B
Announcement comes on heels of Mother Sparsh's entry into the diaper segment with the launch of Plant-Powered cloth diapers. The firm had raised Rs 20 crore in Series A from ITC last November
Topics
ITC | Companies | FMCG firms
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.
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First Published: Wed, October 19 2022. 14:46 IST
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