The DotIn Network, Shiprocket – Huddle Accelerator, Flawless Company Family office, and other angel investors joined the $800k seed investment round for the natural fragrance company Nirmalaya, which was led by Artha Venture Fund.
According to a press statement from Nirmalaya, the funding will be used to increase the company’s footprint in the US, the Middle East, Asia, and to develop more carbon-free products.
The D2C (direct-to-consumer) brand Nirmalaya was established in 2020 by Bharat Bansal, Surbhi Bansal, and Rajeev Bansal. It sells natural incense and items with soulful fragrances.
“At Nirmalaya, we want to disrupt the way traditional fragrances get consumed. Our first step will be to expand our presence to the US and Middle East Asia regions by introducing unique and chemical-free fragrance products, including reed diffusers, and car and room fresheners, in these markets by March’23. This geographic and product expansion will be at the core of our strategy, helping make Nirmalaya a mainstream brand known for its pure, carbon-free, and long-lasting fragrances. Ultimately, we want the leadership position in the Indian and global incense market, and export our products to over 40 countries within the next 18 months,” said Bharat Bansal, co-founder and CEO, Nirmalaya.
After processing floral debris gathered from more than 300 temples in the NCR region, it produces a variety of incense and perfumes. The firm uses an omnichannel distribution model to sell its goods, which include havan cups, incense cones and sticks, dhoop sticks, and essential oils.
“We are fascinated by the solid business prospects of the circular economy. Therefore, even at a nascent stage, we are excited by the strong affinity of consumers to the Nirmalaya brand. Moreover, the founder’s drive and enthusiasm towards building a flourishing, socially conscious, inclusive business is a unique brand identity that appeals to the millennial consumer in India and overseas,” Anirudh A Damani, Artha Venture Fund.
By using them to sort and treat floral debris using highly scalable semi-automatic machinery, they employ and empower over 100 low-income female employees.
Nirmalaya’s ethos is to draw from this rich tradition, and offer fragrances in many forms, both traditional and newly created. They wish to perfume every life with the essence of nature, distilled but pure, truly Nirmalaya.