India's first and largest caffeine infused personal care brand aims to put vegan and cruelty-free products on global shelves by expanding its international footprint in 2022
MUMBAI, India, March 29, 2022 /PRNewswire/ -- Mumbai-based Pep Technologies Pvt. Ltd., which owns mCaffeine (India's largest caffeine infused personal care brand), announced today that it has raised 240 CR in its Series C financing round. This new round of investment, which was led by Paragon Partners with participation from Singularity Growth Opportunities Fund, Sharrp Ventures and existing investors Amicus Capital Partners and RPSG Capital Ventures, now values the start-up at 1000 CR - making mCaffeine the highest valued D2C single ingredient beauty brand in the world.
The brand further announced its foray into global markets. The brand is soon going to expand its footprint in about 12 countries across the globe with GCC - Middle East countries Saudi Arabia and the United Arab Emirates and eventually expanding to Qatar, Bahrain, Oman and Kuwait. The brand also has plans to be present in parts of Europe and the United States.
Commenting on the recent developments, Tarun Sharma, CEO and Co-Founder, mCaffeine mentions, "The recent fundraise will enable us to scale up our R&D capabilities while we strengthen our brand awareness, and fortify our marketing and distribution efforts (both online and offline) across geographies. Plans are to absorb/acquire small brands from the beauty industry (across globe) using mCaffeine framework to strengthen our efforts. Our Indian origin homegrown products are all set to mark its presence across the globe. The products that are Cruelty free, Vegan, SLS & Paraben free have been accepted in diverse climatic conditions. As the brand will expand deeper into these geographies, the products will be built and formulated specific to these regions and needs of the consumers in these countries."
Launched in 2016, co-founded by Mr. Tarun Sharma, Vikas Lachhwani, Vaishali Gupta, Mohit Jain and Saurabh Singhal. The brand is focused on the millennial lifestyle with mass premium offerings. mCaffeine products are best sellers amongst multiple categories on Amazon and Nykaa. mCaffeine currently is present in 4 major categories - Face Care, Hair Care, Body Care and Lip Care. They are also present in more than 5000 offline stores across India and have expanded globally to 3 countries.