Naturohabit Pvt Ltd, which runs personal care brand Nat Habit, on Thursday said it has raised $4 million (around Rs 30 crore) in its Series A funding led by Fireside Ventures, along with participation from existing investors.
The new round also provided exits to some of the early angel investors, the firm said in a statement.
Nat Habit plans to deploy the fresh capital to boost growth, increase channel presence, expand categories and invest across marketing, technology, and hiring talent.
“We are a brand with deep-rooted intent to provide superior quality products and exceptional brand experience. We are proud to have done that with an innovative DNA and a non-shattering commitment to honest products and services.
The brand has pushed the envelope of the personal care industry. It has given consumers an offering that perhaps never would have been given in the traditional realm of personal care. Our vision is to grow into a 1000 crore natural living brand in five years, bringing as many as possible, truly close to nature," said Swagatika Das, Founder, Nat Habit.
Founded in 2019, Nat Habit is a direct-to-consumer (D2C) personal care brand that offers natural skin care and hair care products inspired by Ayurveda.
In its seed rounds, Nat Habit said it raised $2 million (approximately Rs 15 crore) funding.
It is backed by VC firms such as Surge Ventures (Sequoia), Whiteboard Capital, and leading fast-moving consumer goods (FMCG) angel investors including the CEO of Spencer, Snapdeal, Paperboat, Epigamia and Yogabar.
"At Fireside, we have always been bullish on innovation-led brands in personal care and Nat Habit’s innovative products are going to bring FRESHNESS to the customers' doorstep,” said Dipanjan Basu, Partner and chief financial officer (CFO) at Fireside Ventures.
Notably, Basu will be joining the Nat Habit board.
Fireside Ventures is an early-stage venture fund, managing $170 million of assets under management (AUM) with investments in businesses with a focus on consumer brands.
The fund invests in digital-first consumer brands across sectors such as food and beverages, beauty and personal care, healthcare, and home products, among others.