Angel Investments
Personal care products firm Haeal Enterprises raises Rs 11-Cr
Cochin-based Haeal Enterprises has raised INR 11 crore from 13 angel fund investors, including Hedge Equities Founder Alex K. Babu and Raveendranath Kamath. Haeal Enterprises was set up by Rahul Mamman, an alumnus of IIT Ahmedabad and offers premium products at affordable price ranging from soaps, shampoos and body lotions. The company also markets ayurvedic products under its brand. The new funds will be used for acquisition and expansion plans. The company had recently acquired two Kerala-based FMCG companies: Lora Soaps and Orocleanx. It recently signed an agreement with Hemas Pharmaceuticals to launch Sri Lanka's Kumari hair oil in Kerala market early next year. Further, it had also reached an agreement with Thaikkat Moos to market their Nalparama range of products. Haeal is also in the process of launching its products in GCC countries.
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