The Man Company raises Rs 50Cr from Emami

the man company funding

Gurugram-based D2C grooming brand for men, The Man Company announced that it has raised about Rs 50 crore primary capital from Emami.

This marks the third investment by the FMCG leader in the six-year-old company.

The Man Company’s board has resolved to allot 49,665 equity shares to Emami Limited at an issue price of Rs 9,617.05 per share to raise Rs 50 crore, regulatory filings reveal.

With the latest infusion of funds that comes after its last investment in 2019, Emami has become the largest stakeholder in The Man Company with a 45.96% stake. The combined holdings of its co-founders Hitesh Dhingra, Bhisham Bhateja, and Parvesh Kumar have been reduced to 36.5%.

The string of investments from Emami anticipates that it may take over The Man Company in the future. Beardo, one of the early players in the men’s grooming space, was acquired by Marico that also backed Beardo in most of its funding rounds before acquiring the company in 2020.

The Man Company produces and sells grooming products in skin and hair care segments. It competes with owned Beardo, Ustraa, The Bombay Shaving Company, and The Bare Anatom.

Contrary to D2C brands in the women’s beauty space, the growth of men-focused grooming brands has been slow. Experts believe that the men’s grooming market is growing but at its own slow pace. The size of the market for men’s grooming space is a fraction of that of the women’s space. 

“There was no space for D2C brands in the men grooming space five years ago. However, this market has now grown anywhere between Rs 600-800 crore,” said one of the venture capitals who have invested in the segment. “Market for D2C brands in the men grooming space would grow with increasing awareness but it would take several years to reach a sizable scale.”

Don’t keep wondering about funding, you can also raise funds. Learn how to raise funds here: Yes I want to raise funds.

If you are an emerging startup and are looking for investors to raise funds, StartupLanes has its own angel network and investment banking services and is connected to angel investors and VCs in 15 countries that ensure that our member startups have easy access to external funds to scale up constantly.

You can subscribe to our news posts by entering your email in the box on the right side of this page.

Check out our YouTube channel for insightful content from the Indian startup ecosystem.

Or join our Whatsapp group to interact with other founders: Yes, I want to join the Whatsapp group.

The right investment is key to beating inflation and growing your wealth. Do you wish to become an angel investor? Yes, I want to be an angel investor.

Are you a startup and facing challenges in your business? Do you want to grow your business? It is not as difficult as it sounds. Learn how to grow your business here- Yes, I want to grow my business.

For publishing an advertorial article about your company on our website, drop an email at taniya@startuplanes.com