Venture Catalysts and 9Unicorns invest in The Switch Fix
Venture Catalysts, 9 Unicorns, and Kushal Khandwala, Director of KIFS Group led a seed round for Gurugram-based startup The Switch Fix, a plant-based clean and conscious personal care brand. According to the press release, Venture Catalysts has invested $145,000 in this round.
The startup stated that the clean and conscious personal care brand will utilize the fund in expanding its product range.
Founded in December 2018 by Abhishek Kumar and Rhea Shukla, The Switch Fix offers plant-based sustainable products. It produces and sells hygiene products such as soaps, shampoo bars, hair blends, and bamboo toothbrushes.
The Switch Fix’s offerings also include conditioners, scalp treatments, hair serums, and essential skincare. The brand has created chemical-free shampoo bars addressing problems like hair fall, dryness, flakiness & fizziness of hair caused by pollution, heat & humidity.
Speaking on the fundraise, Rhea Shukla, Co-founder, and CEO, The Switch Fix, said, “Our journey so far has been made possible due to our customers’ desire to lead a sustainable lifestyle. There’s no doubt that sustainability is the future and we’re glad to be stepping into the future with 9Unicorns and Venture Catalysts. With the funds received, we will further grow our tribe of climate warriors and make specialized and sustainable personal care even more accessible.”
Sharing his insights, Abhishek Kumar, Co-founder and COO of The Switch Fix, added, “Most of the growth registered previously has been on the back of organic WoM from our loyal customers. We’re happy that through the funds acquired in this round, we will be able to add to our range of specialized products, increase awareness around the need to live sustainably, and make the switch even simpler.”
Commenting on the investment, Dr. Apoorva Ranjan Sharma, Co-founder, and President, Venture Catalysts, said, “The Indian Hair Care Market is currently valued at $ 3.3 billion and is estimated to reach $ 5 billion by 2025, growing at a CAGR of 7 percent – 10 percent during the forecast period (2020 – 2025). Moreover, there is an ever-increasing demand for clean, environmentally-friendly, sustainable hair care products that cater specifically to the needs of Indian consumers. The Switch Fix is well-positioned to turn this high-potential opportunity into tangible success and we are pleased to offer them our support.”
The Switch Fix’s unique positioning of addressing climate change aligns with the urban youth’s values. The company believes in revolutionizing the idea of sustainability by making cruelty-free, non-toxic vegan products without harming or depending heavily on natural resources.
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