Personal care brand mCaffeine raises ₹240 cr in Series C

Tarun Sharma, CEO and Co-Founder, mCaffeine told BusinessLine that the funds will be used to scale up R&D capabilities, grow offline distribution and brand awareness nationally. In the next five years, we expect offline stores to contribute 40-45 per cent to our revenues in India,” Sharma explained. “ Over the last four years we have maintained 100 per cent year-on-year growth and are at an annualised revenue rate (ARR) of ₹250 crore. Sumeet Nindrajog, Co-Founder and Senior Partner, Paragon Partners added: “This is Paragon’s first investment in the personal care sector as the company evolves from a leading Indian digital-first brand to a full-fledged global omnichannel brand. We have been tracking the Indian beauty and personal care industry for the last 24 months and found that mCaffeine clearly stands out from its peers in terms of new product development capabilities, product efficacy, revenue density , customer retention and brand recall.”