2022 is stepping up the startup game with personal care brand Mamaearth's parent company becoming the first unicorn of the new year. Parent company Honasa Consumer Private Limited raised $52 million led by Sequoia at a valuation of $1.2 billion.
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Mamaearth - Skyrocketing business
Mamaearth is a personal care brand that sells over 80 beauty and personal care products across India through online and offline medium. Mamaearth officially launched in December 2016 and is one of the fastest-growing brands in less than 5 years.
The Gurugram-based startup crossed an annual revenue run rate of Rs 700 crore ($100 million), and is on course to become a Rs 2,000-crore brand in the next three years, according to an analyst report by Jefferies.
Meet the founders
Founded by husband-wife duo Varun and Ghazal Alagh, Mamaearth was born out of their own struggle to find skin products for their child's skin condition. With a simple mission to provide natural and toxin-free products for skin and personal care Mamaearth has flooded the shelves and stacks of physical and e-retailers.