D2C wellness brand Scentials raises $4-M led by Indus Way
Mumbai-based D2C (direct-to-consumer) wellness startup Scentials has raised INR 34.6 crore (approx. USD 4 million) in a mix of debt and equity. Indus Way Emerging Market Fund invested INR 32 crore while TIW Private Equity participated with INR 2.6 crore. The firm issued 89,200 Series A1 CCPS (compulsorily convertible preference shares) and 18,59,000 optionally convertible debentures.The funds will be used to meet the growth objectives and to strengthen the financial position of the firm.Founded in 2017, Scentials designs, develops, manufactures, and distributes products through celebrities-backed brands across deodorant, fragrances, and skincare categories.
Between Jun 2019 and Feb 2021, Scentials had raised about USD 10.60 M from Ambiga Subramanian, Goutham Ekollu, Unilever Ventures, Jinesh Mehta and Swag Fashions Hub Pvt Ltd, TIW Private Equity, Biju Antony, Geetanjali Shetty and Twenty Nine Capital Partners Ltd.
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