Direct-to-consumer personal and home care products start-up Clensta has raised more than Rs 20 crore from Hem Angels, which is a part of Hem Securities Limited, along with Venture Catalysts and Inflection Point Ventures. N+1 Capital (RBF), and the company's existing investors also participated in the fund raise.
These funds will be utilised to scale up the company's sales, enhance customer relations, raise brand marketing and expand Clensta's online and offline presence all over the country. Clensta has achieved a compound annual growth rate (CAGR) of ~130 per cent and aims to earn Rs 1,000 crore revenue in the next 5 years.
One of Clensta’s investors—Hem Angels -- said that it believes there’s no better time for Clensta to take their offerings to the next level. Hem Angels also noted that Clensta has been quick to capitalise on the product, innovation and price white space.
“D2C wave is birthing many innovative and disruptive brands. Clensta takes the innovative further with the introduction of waterless tech in their products. Their understanding of the fast-growing D2C segment and a varied range of products in the personal care impressed our investors to lead this round,” co-founder of Inflection Point Ventures Mitesh Shah said.
This start-up was founded in 2016 by Puneet Gupta and it started with products based on waterless technology such waterless body bath and shampoo. The start-up claims to have a big presence in B2B and B2C segments as a developer of waterless technology. Clensta is now wants to tap into the massive D2C segment with super cleansers filled with concentrates for household cleaning and plans to launch an innovative technology-based personal care category.
“Developing innovative technology has been one of Clensta’s foremost attributes ever since inception. Keeping in mind the Indian home care market size of $6.2 billion, we have adopted an omni-channel strategy to ensure Clensta’s presence in offline as well as online markets,” said Founder and CEO of Clensta, Puneet Gupta.
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