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HomeInsightFunding Alert Vanity Wagon Raises $2 mn in Pre-Series A Funding

[Funding alert] Vanity Wagon Raises $2 mn in Pre-Series A Funding

The pre-Series A funding round for the beauty marketplace Vanity Wagon, which was led by Agility Ventures Partners and Lotus Herbals Private Limited, raised about $2 million at a $8 million valuation. Along with prominent HNIs, Inflection Point Ventures, and Venture Catalysts participated in the investment round.
Team Vanity Wagon

The pre-Series A funding round for the beauty marketplace Vanity Wagon, which was led by Agility Ventures Partners and Lotus Herbals Private Limited, raised about $2 million at a $8 million valuation. Along with prominent HNIs, Inflection Point Ventures, and Venture Catalysts participated in the investment round.

The money raised will be put to use for marketing and sales-driven tactics, brand development, expanding the private label portfolio, offline retail, and market positioning, as per reported by Entrepreneur.com.

Vanity Wagon is an online store for beauty and wellness items that Naina Ruhail, Prateek Ruhail, and Sahil Shrestha launched in 2018. It makes the claim to sell only genuine brand-sourced goods.

Read also – [Funding alert] AgeTech Startup Sarathi Healthcare raises Rs 1 Cr seed funding from ah! Ventures, others

“Our vision is to build a sustainable and a legacy brand in the beauty segment which will only be strengthened by this investment. Furthermore, our strategy to go omnichannel, co-own more clean beauty brands, and expand internationally is what a part of this investment will be deployed in. The beauty market and the e-retail market are going through an interesting time, where every enterprise is trying to establish a market presence, and with learning of 4 years and a robust team, we are definitely going to continue reinforcing our hold on the Clean beauty market,” said Naina Ruhail, co-founder, director and co-CEO, Vanity Wagon.

With the debut of 5 new foreign brands in India, the company has onboarded over 350 on the portal, with 15% international brands. According to a statement from the company, it hopes to boost its sales by 5 times with the help of acquired brands and become a 500 crore INR company in the next 2 years.

“Vanity Wagon allows investors an opportunity to be a part of one of the fastest-growing industries, Beauty. The industry has seen several unicorns and also several companies that have outgrown the market constantly, and still, the market continues to grow. This signifies a strong future for not only beauty but for commerce as a whole,” said Dhianu Das, co-founder, Agility Ventures.

Read also – [Funding alert] Marwari Catalysts’ Backed Startup, Jaipur Watch Company Raises First Round of Funding

Inflection Point Ventures, the pre-Series A round leader, raised Rs 5.5 crore for the beauty portal in October of last year. Agility Ventures, Lotus Herbals, and Venture Catalysts all took part in the funding round.

About Vanity Wagon

The largest information-based clean beauty marketplace in India is called Vanity Wagon. They aim to be a one-stop shop for all your beauty requirements, with a focus on non-toxic goods. Their staff consists of people with a wide range of expertise, from management professionals to beauty gurus.

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