In a development highlighting its exemplary growth potential, MCaffeine, India’s first caffeinated personal care brand, has raised a sum of US $0.5mn in its latest funding round.
The pre-series A investment round was led by Harminder Sahni, Founder of Wazir Advisors, Mohit Bajaj, Let’s Venture and Calcutta Angels. MCaffeine plans to utilize the funding towards product research and development and inventory buildup. In addition to this, the firm will use the capital infusion to expand its product portfolio and go Omnichannel.
MCaffeine is a personal care brand that was launched in 2015 by Vikas Lachhwani and Tarun Sharma. From shampoos, face-wash and shower gels, MCaffeine’s range of personal care products is positioned in the premium category with a unique proposition – caffeine infused personal care comprising hair and skin care products.
MCaffeine can be credited as India’s first caffeinated personal care brand that has introduced the goodness of caffeine in all its personal care products launched in India. Catering the millennia’s with an active lifestyle, MCaffeine has been growing at a phenomenal pace as a digitally native vertical brand (DNVB).
Apart from explaining the concept behind MCaffeine, Vikas Lachhwani, Co-founder of MCaffeine said, “We are aware that we are contending in a space where is there is stiff competition. The young millennial’s have a personality of their own which is very different than the generation they are succeeding. We see a potential market in the young millennial’s, which we believe is underserved by the incumbent brands and products. Millennial’s are more expressive, experiential, socially and environmentally sensitive. They believe in expressing their personality with the lifestyle choices they make and look up to brands as an extension of their identity. Hence, we are looking to build a brand which reflects the millennial lifestyle and aspirations. MCaffeine is sensitive to the social message it communicates and do openly detest fairness products. Our aim is to make a compelling proposition in the consumer products market in order to drive our product and brand philosophy.”
The medicinal properties of caffeine on skin and hair have been well researched in the fields of dermatology, trichology and cosmetology. Built on a careful selection of expertly curated ingredients, all the MCaffeine products come with the cruelty-free claim and are not animal tested.
Commenting on the investment, Harminder Sahni, Founder of Wazir Advisors said, “MCaffeine as a brand has the pulse of the new generation. They understand the physical and emotional needs of their market. Moreover, their execution so far has been par excellence. What they have been able to achieve in such a limited time is really commendable. MCaffeine, with a team of passionate entrepreneurs, is sure to succeed in this space and emerge as the favorite personal care brand amongst millennials.”
At least three MCaffeine products have topped 10 charts on online marketplace Amazon in their respective categories. Currently, MCaffeine does an ARR business of Rs 5 crore. MCaffeine Neem-Caffeine Face Wash and Silver-Caffeine glow gel are the two bestselling products on Amazon.
Commenting on the growth, Tarun Sharma, Co-founder of MCaffeine said, “In just about one year, we have expanded our portfolio from 6 products to 16 products. Keeping operational profitability from day 1, we have served more than 1 lakh customers till date. We have received tremendous love from our customers. We plan to touch 1 million customers this year.”
MCaffeine also runs a campaign called ‘Burn the Shade Card’, where they highlight the stories of people who have overcome colour prejudice. All the MCaffeine products have been well accepted in the market. Exclusively available online, MCaffeine has grown phenomenally over the last year or so.