Dlhi-based clean beauty marketplace Vanity Wagon announced today it has raised about $2 million in pre-Series A funding round co-led by Agility Ventures Partners and Lotus Herbals.
Inflection Point Ventures, Venture Catalysts, and unnamed HNIs also joined.
The startup will utilize the funds for brand building, growing the private label portfolio, offline retail, technology, and marketing and sales-driven strategies.
Launched in 2018 by Naina Ruhail, Prateek Ruhail, and Sahil Shrestha, Vanity wagon is a one-stop solution for beauty needs for clean beauty and wellness products. It helps save time and money on product discovery while also getting access to authentic brand-sourced products.
Vanity wagon, which operates in a $1 billion market, earlier raised $1 million in seed funding in 2021.
Director & co-CEO Naina Ruhail commented, “Our vision is to build a sustainable and legacy brand in the beauty segment, which will only 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 market and the e-retail market are going through an interesting time, where every enterprise is trying to establish a market presence.”
Vanity Wagon deploys the latest technologies in assembling a clean beauty community and builds a holistic company with several revenue streams around beauty. It aims to be an INR 500 cr company in the next two years.
The clean beauty and wellness company has onboarded 350+ on the portal with 15 per cent international brands with the launch of five new international brands in India. It aims to achieve 5x sales growth with acquired brands.
According to Statista’s analysis, the global clean beauty market is anticipated to grow to over $54 billion by 2027.