Femtech brand Sirona India on Tuesday said it has bought Hyderabad-based vegan condom brand Bleü in an all-cash deal, marking its foray into sexual wellness category.
However, the company did not disclose the financial details of the transactions.
The acquisition is directly in line with Sirona’s goal of offering an ecosystem of feminine care, the company said in a statement.
Founded by Komal Baldwa in 2019, Bleü sells a range of vegan condoms. It claims that its products are eco-friendly and free from chemicals like parabens, glycerine, benzocaine and nitrosamines.
“Condoms have traditionally been targeted towards men. However, Bleü condoms talk to women, which is what caught our attention,” said Deep Bajaj, co-founder of Sirona.
Sirona plans to grow the Bleu business by 10x on the marketplace and D2C (direct-to-customer) by March 2025.
“This acquisition is a significant milestone for us, as it allows us to leverage Sirona's extensive expertise and resources to expand reach and impact,” said Bleu’s Baldwa.
Bleü is the second acquisition of Sirona, which had bought pepper spray brand Impower from Donna FMCG Pvt Ltd in an all-cash deal for an undisclosed amount in February last year.
Sirona was founded by Deep and Mohit Bajaj in 2015. The company manufactures pee device for women called PeeBuddy as well as herbal feminine pain relief patches, anti-chafing rash cream for rashes in intimate areas, period stain removers, oxo-biodegradable sanitary and tampon disposal bags, and menstrual cups.
The company had bagged Rs 100 crore (around $13.4 million then) in a Series B funding round led by Good Glamm Group. The round also saw secondary buyout with early investors including seed and angel investors.