homestartup NewsNat Habit raises $10.2 million to boost skincare product offering, open offline stores
Nat Habit raises $10.2 million to boost skincare product offering, open offline stores
Naturohabit Pvt. Ltd, the parent company of direct-to-consumer (D2C) beauty and wellness care brand Nat Habit, has raised $10.2 million as part of its Series B funding round led by Bertelsmann India Investments. The round also saw participation from Nat Habit's existing investor Fireside Ventures, alongside new investors Amazon India Fund, Mirabilis Investment Trust and Sharrp Ventures.
Founded in 2019 by Swagatika Das and Gaurav Agarwal, the New Delhi-based startup will use the capital for research & development, product diversification, brand building, offline expansion, and talent acquisition.
The startup will also use $2 million from the latest fundraise to provide exits to early-stage investors, including White Oak Capital and other angel investors.
Nat Habit offers skin care products such as hair oils, face wash, moisturisers, and face packs (ubtans).
India's highly competitive D2C beauty and wellness market is estimated at $30 billion. However, Nat Habit's co-founder, Swagatika Das, is unfazed and bets on the startup's speciality.
"Our products are formulated & manufactured in our own Ayurvedic Kitchen & are made from fresh fruits, spices, and nuts," said Swagatika Das, co-founder of Nat Habit.
Das added that the ingredients and their formulations were something that had not been seen in the beauty space.
Nat Habit currently has a range of over 35 products and has an average order size of around ₹650. Consumers typically add about three to four products across Nat Habit's skincare and haircare range.
“We’re betting big on our fresh facewashes, fresh malai moisturisers and the henna hair colour,” Swagatika added.
The startup will use the latest funds to create natural hair colours, shampoos, and conditioners, as well as a baby care range.
Nat Habit claims to serve nearly 1.4 million customers and ships 15,000 units per day. As of now, Tier I and II cities cover more than 70% of its user base, and the rest comes from Tier III cities.
Nat Habit is presently clocking an annual recurring revenue (ARR) of ₹82 crore and aims to close this financial year at ₹110 crore. It hopes to achieve more than four-fold growth in ARR to ₹350 crore in the next two years.
Swagatika added that their offline expansion plans and new product launches are the next key levers of growth.
Nat Habit will enter the offline space by April and is hoping to open two stores before FY25 in Delhi-NCR. It will follow that up with stores in Bengaluru and Bombay.
(Edited by : Ajay Vaishnav)
First Published: Dec 12, 2023 9:55 PM IST
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