IDAM Natural Wellness Pvt. Ltd, the parent company of direct to consumer (D2C) personal care brand Bella Vita Organic, on Thursday said it has acquired pet wellness firm Petveda.
Aakash Anand, founder and CEO of Idam Wellness, said in a statement that the acquisition gives the company an entry to enhance its reach in providing ayurvedic solutions for pets and their well-being. The financial details of the transaction were not disclosed.
Post the acquisition, Petveda, founder, Kamakshi Kumar, will remain in her position as its founder and CEO. The company will continue to develop pet care solutions while also launching a range of supplements for pets.
Before founding Petveda, Kumar worked with KLM airlines for four years and at Mizuho Corporate Bank for nine years.
“When humans have the choice to opt for chemical-free products, our voiceless furry friends should have natural and Ayurvedic health care and grooming solutions too," said Kumar.
Bella Vita Organic was launched in 2018 by Anand. Earlier in July this year, the company raised $10 million (Rs 74.7 crore) in its first institutional round of funding from Ananta Capital, a private equity platform backed by Mumbai-based Taparia family of Famy Care Group.https://www.vccircle.com/pe-fund-backed-by-taparia-family-invests-in-personal-care-brand-bella-vita-organic
The company has over 55 products including a range of fragrances and essential oils. It claims to be on track to cross Rs 100 crore in annualised revenue run rate. Apart from its app and website, the brand sells on Amazon, Nykaa, Flipkart, Purplle, and other marketplaces.
There have been a few deals activity in the per care space in the past years.
For instance, just in August, Heads Up For Tails (HUFT) raised Rs 277 crore ($37 million) in a Series A funding round led by Verlinvest and Sequoia Capital India.
Earlier this month, VCCircle reported that consumer focused venture capital firm Sixth Sense Ventures is in talks to invest in dog food company Dogsee Chew.