India’s leading organic skin & personal care brand Juicy Chemistry has raised $6.3 Mn in a SeriesA funding round led by Belgium-based investment firm Verlinvest, the go-to investor for mission-driven entrepreneurs and category-defining global brands. This marks the largest Series A raise in the D2C beauty and personal care space. Veda Corporate Advisors was the exclusive financial advisor for the transaction.
Starting from a 10×10 make-shift kitchen, with five thousand rupees and a dream to change how the beauty and cosmetics industry was perceived in India, Juicy Chemistry was founded in 2014 by Megha & Pritesh Asher. Juicy Chemistry offers a complete range of certified organic products across the face, body, and hair care, formulated with the highest quality organic ingredients sourced from around the world which are not only pure and highly concentrated in vitamins, minerals, and nutrients, but also deliver superior efficacy on application.
“It is an incredibly exciting time for us. The investment will enable Juicy Chemistry to further strengthen its position as a leader in the clean and organic beauty segment. We are keen to leverage this capital for the rapid expansion of Juicy Chemistry’s thriving e-commerce platform and omnichannel distribution capabilities, to reach new and existing geographies, to hire talent, for brand building, and to cater to the increasing demand for products both domestically and in the international market” said Pritesh Asher, Co-Founder, and CEO of Juicy Chemistry.
Boot-strapped until 2019, the firm raised an Angel round from Mr. Amit Nanavati who believed in the brand and unique product offering. This gave the much-needed resource to scale operations and dream bigger. Juicy has seen a 300% jump in revenues for this fiscal year with a growing customer base, who are torchbearers for the brand with high repeat cohorts.
“Our colleagues at Juicy Chemistry have been the pillar of strength, and their sheer commitment and dedication to the brand have made this possible. It’s a privileged position for us to be in as this new round of funding from the strongest purpose-led, consumer-focused investor will tremendously accelerate our expansion plans and help us penetrate the market deeper and reach more consumers to spread the message of Organic beauty care. We look forward to building the brand full steam ahead keeping the core ethos and values unaltered as we scale the business over the next phase” said Megha Asher, Co-Founder & COO of Juicy Chemistry.
“We are excited to start our journey with Juicy Chemistry, which forms part of our global effort in backing unique digital-first beauty brands for the long term. We are impressed with Pritesh &Megha’s passion to create high-quality, organic-certified beauty products and the customer love they have received. Verlinvest looks for authentic and passionate entrepreneurs who are creating a consumer revolution using their product & brand stories and we saw like-mindedness with the way Pritesh & Megha are building their business. We are very happy to partner with Juicy Chemistry and will support its development in the years to come” said Arjun Anand, Executive Director, Verlinvest.
“India is on track to become one of the largest beauty markets in the world. An increasingly conscious customer is shaping the trend towards clean beauty. Megha and Pritesh with their deep knowledge of organic beauty, have been able to craft the perfect beauty brand, that strongly resonates with this conscious consumer. By emphasizing sourcing unique organic ingredients from across the world and manufacturing at the highest ECOCERT standards, they are creating nothing short of a revolution in the organic beauty segment in India. I started my journey with Juicy Chemistry as a consumer a year ago and now I am absolutely thrilled to be a part of their future growth as an investor” said Manvitha Janagam, Investment Professional, Verlinvest.