mCaffeine, a Mumbai-based D2C personal care brand owned by Pep Technologies Pvt Ltd, has raised Rs 240 crore in its Series C funding led by Paragon Partners. 

The funding round also saw participation from Singularity Growth Opportunities Fund, Sharrp Ventures and existing investors Amicus Capital Partners and RPSG Capital Ventures.

With this round, mCaffeine is now valued at Rs 1,000 crore. As per the startup, the raised funds will be utilised to grow its offline presence to 25,000 outlets from its existing 5,000, expand its sales team, and acquire at least two beauty brands.

mCaffeine | Clean And Sustainable Self-care

Founded by IIT alumni Tarun Sharma, Vikas Lachhwani, Vaishali Gupta, Saurabh Singhal and Mohit Jain, mCaffeine is India’s first caffeinated brand for personal care and offers caffeinated personal care products for face, hair, body and lips that are 100% Vegan & Cruelty-free.

Its products are FDA approved, made safe & dermatologically tested, with no SLS, parabens, silicones & mineral oils.

Speaking about the development, Tarun Sharma, Co-founder of mCaffeine, said,

“This industry has always been very competitive. When he started, there were large incumbents, very few challenger brands. Now there are large incumbents and a lot of challengers… We amped up our game of differentiation from Day One. We are a personal care brand, and caffeine happens to be our edge to kill the clutter.”

Recently, the brand roped in actor Alia Bhatt as its brand ambassador. With a presence in India, the United Arab Emirates, Nepal and Maldives, mCaffeine plans to launch its products in 12 countries in 2022. The D2C personal care brand will first launch its products in the Middle East and North African countries before expanding to Europe and the US.

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