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Sunday, December 10, 2023

Inspiring journey of MamaEarth from facing failures to becoming a unicorn

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MamaEarth is India’s first beauty business to offer toxin-free infant and skincare products. MamaEarth’s net worth was estimated to be about Rs. 100 crores in 2020. Varun Alagh and Ghazal Alagh established MamaEarth in 2016.

It is Asia’s first beauty company to use MadeSafe ingredients and products. Numerous harmful substances are prohibited in the use of products in many countries other than India. Many individuals are concerned about their family and themselves utilizing dangerous items. MamaEarth was founded as a result of Alagh’s idea to do something about the problem.

Ghazal Alagh was born in 1988 in Gurgaon, India, and finished her higher education at Punjab University before marrying Varun Alagh in 2011. Ghazal spent some time in the United States, where she learnt a lot about skincare products, forbidden pollutants, and skin-harming substances. She used to read the ingredients before using a product. When Ghazal was expecting her first child, she became concerned about the lack of safe baby-care goods in India.

As a result, the couple stopped purchasing Indian things and began purchasing products from the United States, which proved to be prohibitively expensive and difficult. However, they are not alone; lots of parents seek safe items for their children. The pair spent sleepless hours studying ways to make skin and infant care products safer to use.

All of the hard work paid off, and MamaEarth was formed, becoming Asia’s first beauty business to be accredited with “MadeSafe” goods.

Ghazal is regarded as one of the top ten female performers both domestically and internationally. Agastya Alagh, the couple’s first child, was born.

Varun Alagh, who owns 38.72 percent of Mamaearth, is the company’s majority shareholder. Sequoia Capital and Fireside Ventures own 15.22% and 12.04 percent, respectively. Ghazal owns 3.58 percent of the company, Stellaris Ventures owns 10.42 percent, and Sofina Ventures owns 8.72 percent. The remaining 11 percent of the interests are held by others.

Mamaearth raised a total of $109.87 million in fundraising. Sequoia Capital provided $37.5 million in funding, allowing Mamaearth to achieve unicorn status.

Mamaearth then received $50 million in a Series C financing transaction led by Sofina Ventures. Shilpa Shetty also become a shareholder in the firm.

Mamaearth received $125,000 from a group of investors in 2016. Stellaris Ventures, Fireside Ventures, and other investors contributed $4 million to the startup.

Mamaearth raised around Rs 140 crores in a round headed by Sequoia India in 2020, with participation from current investors Fireside Ventures, Stellaris Venture Partners, and Sharp Ventures.

Mamaearth faced the same challenges as any other business. The firm did not receive favorable results from the start. Due to a lack of clarity regarding the product’s motivation, numerous marketing tactics failed and only a small audience was addressed. The team revamped its client targeting and marketing strategies, and they saw visible results in a short period of time. Mamaearth had defeated several beauty brands, both Indian and foreign, that used to dominate the Indian market. The tale of this husband-and-wife team and their company’s success inspires us all to be more conscious of what we use and how we may make a difference in our lives.

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