Agility Ventures Partners and Lotus Herbals Pvt Ltd led a $2 million pre-Series A fundraising on Friday, according to Vanity Wagon, a clean beauty marketplace.
With further funding from Venture Catalysts, Inflection Point Ventures, and a few high-net-worth individuals (HNIs), the Delhi-based cosmetics company’s valuation increased to $8 million. Vanity Wagon is to use these funds to increase its private label portfolio, offline retail operations, and efforts to build its brand, in addition to investing in its technology, marketing, and sales-driven techniques.
“Our vision is to build a sustainable and a 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, and with learning of 4 years and a robust team, we are definitely going to continue reinforcing our hold on the Clean beauty market,” said Naina Ruhail, co-founder, director and co-CEO, Vanity Wagon.
Launched in 2018 by Naina Ruhail, Prateek Ruhail, and Sahil Shrestha, Vanity wagon is a one-stop solution for all your beauty needs, where one can shop clean beauty and wellness products at one platform.
“Vanity Wagon allows investors an opportunity to be a part of one of the fastest-growing industries, Beauty. The industry has seen several unicorns and also several companies that have outgrown the market constantly, and still, the market continues to grow. This signifies a strong future for not only beauty but for commerce as a whole,” said Dhianu Das, co-founder, Agility Ventures.