Dr. Sheth’s raises Rs 3 crore funding
Luxury skincare line, Dr. Sheth’s, raised funding from Mumbai Angels Network (MA Network), India’s premier platform for venture investing. The total round was Rs 4 crores, of which Rs 3 crores was raised from MA Network, alongside other investors. Commenting on the fund raiser, Founder and CEO Dr. Aneesh Sheth said, “We are proud to partner with an institution like the MA Network and look forward to the value they bring in growing our brand. Dr.Sheth’s is a clean beauty brand safe for consumers and derived from natural ingredients and medically tested. I also recognise South Asian skin pigment requires a unique formulation and created a line that caters to this demographic.” The Mumbai-based firm will be using the funds to scale operations, build brand awareness, develop new product line, and launch in international markets.
“We see Dr. Sheth’s as a company with a sharp focus on their product line and see them growing successfully in the natural beauty market with their targeted consumer approach. We as a venture investment platform are backing innovative businesses and strong founders and are happy to welcome Dr Sheth’s to the growing MA Network family,” said MA Network CEO and MD, Nandini Mansinghka. Founded in 2016, Dr. Sheth’s range of personal care products is designed exclusively for the Indian skin, and is free of harmful ingredients such parabens, sulphates, or phthalates.