M&A

M&A

Singapore-based Believe acquires clean beauty brand Iba Cosmetics

INC42  

Singapore-based FMCG company Believe Pte Ltd has picked up a majority stake in Ahmedabad-based Iba Cosmetics as part of the latter's Series B round of funding. As part of the deal, Iba will join the house of brands developed by the Singapore-based conglomerate, and its co-founders will continue to lead Iba. Founded in 2014 by Mauli and Grishma Teli, Iba Cosmetics claims to be India's first Halal-certified and PETA-certified vegan cosmetics and personal care brand. The personal care startup last raised INR 15 Cr in its Series A round of funding in 2018.