Vanity Wagon, a clean beauty marketplace, has raised around $2 million in pre-Series A funding round at a valuation of $8 million. The funding round was co-led by Agility Ventures Partners and Lotus Herbals Private Limited and saw participation from Inflection Point Ventures, Venture Catalysts, and other high-net-worth individuals (HNIs).

As per the startup, the raised funds will be used to strengthen its market position, invest in brand building, grow the private label portfolio, offline retail, technology, and marketing and sales-driven strategies.

Vanity Wagon | Clean Beauty Marketplace

Co-founded by Naina Ruhail, Prateek Ruhail, and Sahil Shrestha in 2018, Vanity Wagon claims to be an information-oriented clean beauty marketplace.

The startup is working with a vision to replace regular off-the-shelf products with natural & organic alternatives that are safe for users and the environment. Vanity Wagon aims to become a Rs 500-crore company in the next two years.

Speaking about the development, Naina Ruhail, Director and CEO at Vanity Wagon, said,

“Our vision is to build a sustainable brand in the beauty segment, which will be strengthened by this investment. Furthermore, our strategy to go omnichannel, co-own more clean beauty brands, and expand internationally is what a part of this investment will be deployed in. The beauty and e-retail markets are going through an interesting time where every enterprise is trying to establish a market presence. We are going to continue reinforcing our hold on the clean beauty Market.”

As per the startup, it has onboarded over 350 brands on its platform, including Dot & Key, Lotus Organics, Plush, Face Rituals, Ikkai, Bubblefarm, The Mom’s Co., and Carbon Bae, among others. In October 2021, the clean beauty marketplace raised Rs 5.5 crore led by Inflection Point Ventures.

Commenting on the development, Dhianu Das, Co-founder of Agility Ventures, said,

“Vanity Wagon allows investors an opportunity to be a part of one of the fastest-growing industries – beauty. The industry has seen several unicorns and companies that have outgrown the market constantly, and still, the market continues to grow. This signifies a strong future for not only beauty but for commerce as a whole.”

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