NEW DELHI: Team Sirona, makers of feminine hygiene products like PeeBuddy & Sirona Menstrual Cups, Herbal Period Pain Relief Patches, has raised an undisclosed follow-on investment from Indian Angel Network (IAN). Existing lead investors Vikas Kuthiala & Ishan Singh participated in the latest funding round along with other strategic & HNI investors. This investment is a precursor to their larger fundraise plans of upto $5 million by the end of the year where they already have early stage conversations and inbound investment traction.
In its last funding round in March 2017, Sirona had raised Rs 2.96 crore from Indian Angel Network. Sirona plans to leverage the acquired funds to sustain the ongoing marketing and distribution expansion initiatives. By making its innovative category-defining products more accessible across various channels, Sirona has been offering solutions to ‘unaddressed’ Intimate & Menstrual hygiene issues faced by women.
An online-first company, Sirona’s products are available across its own e-commerce website and leading online marketplaces like Amazon, Flipkart & Nykaa. With a sizeable offline presence across Delhi-NCR, retailers such as 24×7 convenience stores, Le Marche, Modern Bazaar, Krishna Marche 37, Guardian etc., the company is now planning its foray into multiple cities across India.
Commenting on the investment, Deep Bajaj, Founder, PeeBuddy, Sirona in a statement said, “Ever since we invented India’s First Female Urination Device, PeeBuddy, followed by India’s First Herbal Period Pain Relief Patches, Sirona, in 2015, the acceptance for unique hygiene products among Indian women has increased manifold. This customer validation further encouraged us to launch more products like Sirona Menstrual Cups, Tampons etc and all have been very well accepted by customers. The latest capital infusion will help us further bolster our position in this space and allow our products to reach a wider population across India.”
In a statement, Lead IAN investor Ishan Singh added, “At IAN, we are constantly on the lookout for high-potential business ventures. We already have many investee startups catering to critical issues in the relatively unaddressed spaces of feminine hygiene, sanitation, etc. Investing in Sirona takes that value proposition to another level.”
This bridge funding comes on the back of the market traction that Sirona has garnered post the introduction of several first-of-their-kind products in India. These include female urination devices, herbal pain relief patches, oxo-degradable disposable bags, anti-chafing creams, and biodegradable pregnancy kits.
[“source=economictimes.indiatimes”]