Mamaearth, the baby care products brand, is in discussions to raise up to $20 million in a Series B round, which may be led by Sequoia Capital India.
The round will also see participation from existing investors Stellaris Venture Partners and consumer-focused fund Fireside Ventures, at a post-money valuation of about $70 million.
Mamaearth, run by Honasa Consumer Pvt Ltd, was founded by husband-wife duo Varun and Ghazal Alagh in 2016. The baby care brand is offering more than 50 natural, toxin-free products, including bamboo-based baby wipes, lotions and face masks.
In September 2018, Mamaearth had raised $4 million led by Stellaris and Fireside, before which it had raised $1 million from Fireside in September 2017.
The brand has offline stores in Mumbai, New Delhi, Chennai, Pune, Kolkata and Nagpur. Besides its own website, Mamaearth sells its products on Amazon, Flipkart, Netmeds, 1MG and Firstcry.
