Personal care brand Clensta, backed by Parineeti Chopra has appointed JM Financial, a leading investment banking firm in India, as its investment banker to fuel its expansion initiatives. JM Financial will guide the brand on its future fund-raising initiatives.
JM Financial is one of the oldest and most respected financial institutions in India having made a name for themselves by being part of marquee IPOs of new-age companies such as Nykaa, Mamaearth, IdeaForge and Zaggle.
“Our tie-up with JM Financial is part of a series of strategic decisions taken by us following Clensta’s association with actor Parineeti Chopra as an investor and hiring Ashish Mishra (ex-Mamaearth, VLCC)) as our co-founder and CBO. We hope to deepen and broaden our omni-channel distribution to include the retail, online, international and alternate markets while securing large-ticket deals in the institutional and export segments. We are on the right trajectory and feel this is a good time to bring in a partner like JM Financial. With them coming in, we now look forward to focusing on building our business while continuing to grow under the leadership of Ashish” said Puneet Gupta, Founder, Clensta.“
Clensta has been constantly expanding its business this year, having strengthened its leadership team by onboarding Ashish Mishra as co-founder and CBO along with Parineeti Chopra as partner and key investor for Clensta. The brand is now looking at leveraging an omnichannel playbook offering an optimal category mix. The brand not only commands a strong online and offline presence in the Indian market but has also organically expanded internationally.
Earlier this year, Clensta had raised INR 75 crore in a Pre-Series B funding round led by TradeCred and co-led by the Royal Family of the UAE and Parineeti Chopra, among other investors. Clensta grew 100% in FY23 and is on track to grow 150% in the next fiscal
About Clensta International Private Limited
Clensta International Private Limited is India’s first personal care brand that integrates goodness of nature with technology, creating innovative, sustainable and effective range of products to enhance overall wellbeing in a better way. The Gurgaon-headquartered direct-to-consumer brand was founded in 2016 by Puneet Gupta and the products were commercialized in 2019. Clensta pioneered the revolutionary waterless hygiene technology in India launching a range of zero-water personal-care products.
On the back of its robust scientific acumen and R&D capabilities, Clensta has horizontally scaled into multi category personal care products. Each sustainable and highly effective Clensta product is researched and developed at IIT-Delhi to provide consumers the better way. Clensta ensures that its products are highly efficacious through market first natural ingredients, and highly effective active ingredients infused with the proprietary technologies such as STAR and CRAN.
Since its launch, Clensta has raised funding worth 100+ crores from marquee investors like TradeCred (invested in Furlenco, Bizongo, BatterySmart etc), Royal Family of UAE, Parineeti Chopra and various other angel platforms, which it is pumping back into the business to expand the inventory and customer base.
Clensta’s products are currently available on Amazon, Nykaa, Flipkart along with 20 other marketplaces as well as 5000 GT/MT touchpoints across India and have plans to expand its offline presence into 50+ cities.