Mother Sparsh in talks with investors to raise at least $3M
Baby care brand Mother Sparsh has announced that it is in talks with investors to raise a minimum of $3 million to support its growth plans.
The company, which is aiming at a revenue of Rs 100 crore by the end of next fiscal year, intends to expand its range of personal care products this year.
Commenting on the announcement, Himanshu Gandhi, CEO and Co-FounderCEO and Co-Founder of Mother Sparsh said, “We are a very self-sustained company…We have a decent amount of funds to invest as we are a profitable company. It (raising funds) is something we are looking for. We are in conversation with a few investors. If we do raise, we would require at least USD 3-4 million.”
He added that the company will focus on growing its range of personal care products this year.
‘We plan to launch 30-35 products this year. Mother Sparsh started its journey with baby wipes. Now we want to focus on the personal care range. These new launches will be mainly for skin and health care. We are looking at achieving revenue of Rs 100 crore by FY 2023,’ he added.
Currently, the company’s product range comprises 40 products. It rolled out personal care products 3 months ago. Gandhi said the recent surge in COVID-19 cases has obstructed the supply chain and increased input costs.
Mother Sparsh is a well-performing company and is looking at great opportunities to grow its business.Shishir Gupta, Founder and CEO, StartupLanes
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