Godrej Consumer will invest $100 million in a consumer startup fund. GCPL will anchor the fund while also providing experience and expertise to help founders build sustainable and strong businesses.
Godrej Consumer Products Limited (GCPL), headquartered in Mumbai, will invest $100 million in Spring Marketing Capital’s new early-stage consumer fund. GCPL will anchor the fund while also providing experience and expertise to help founders build sustainable and strong businesses.
The move marks GCPL’s entry into the startup ecosystem, where competitors such as Wipro Consumer Care, which runs a startup fund, as well as Marico Ltd. and Hindustan Unilever Ltd., have recently increased investments in new, emerging businesses.
GCPL will put the money into Early Spring, a $300 million early-stage consumer fund launched by Spring Marketing Capital.
Spring’s first fund, worth Rs 150 crore, is still investing in companies in the Series A and beyond. GCPL sells soaps, mosquito repellents, and hair colours in India and exports them to other countries. It reported some annual revenue of about 6,951.56 crore in FY22.
Spring is led by three founders: Raja Ganapathy, a former Sequoia Capital executive, Arun Iyer, an advertiser, and Vineet Gupta, a former DDB Mudra employee.
