D2C brand Nirmalaya raises seed round led by Artha Venture
Summary
Delhi-based natural fragrance brand Nirmalaya has secured $800K in its seed funding round led by Artha Venture Fund along with participation of The DotIn Network, Shiprocket Huddle Accelerator, Flawless Company office and other angel investors.The proceeds will be deployed to expand its presence to the US and the Middle East, Asia and build more carbon-free products, Nirmalaya said in a press release.Nirmalaya is a direct to consumer brand that offers natural incense and fragrance products which are chemical-free, low carbon, and eco-friendly incense. It claims to process floral waste collected from more than 300 temples in the NCR region.With the global natural incense market raking up around $1 billion in revenues, Nirmalaya aims to leverage its range of products to gain a firm foothold in the global markets. The company aims to rake in $3.5 million in revenue in the next 16-18 months.Nirmalaya competes with the likes of Phool, Soulflower, Maeva and several others. In April this year, Phool raised $8 million led by Sixth Sense Ventures and existing investors including Bollywood actor Alia Bhatt. Soulflower also raked in its maiden funding round from Wipro Consumer Care-Ventures and Lighting in December 2021.