As per the company, the investment will be used for growth capital and working capital
Beauty and wellness company Pahadi Goodness has secured its first round of funding worth Rs 5 crores from Mudhra Ventures promoted by Gunapati Swathi Reddy. As per the company, the investment proceeds will be used for growth capital including marketing, promotion and new product development.
For the last few years, I have been drawn to clean and organic products, Swathi Reddy, managing partner, Mudhra Ventures, said. “I believe ‘Make up is a choice but Skincare is essential.’ I came across Pahadi local last year and absolutely fell in love with the quality. The honesty in the products and the sincerity of the people at Pahadi drew me towards this opportunity,” she added.
Pahadi Local commands a premium positioning and is known for its purity promise, quality of products and sustainable footprint. This investment will allow the company to ramp up the sales and drive the company towards a very promising future. The current round of funding values the business at Rs 30 crores. “The investment has come at a time when the market is opening up and our current and new products are seeing great traction,” Pahadi Local family said.
Swathi Reddy is an entrepreneur with investments across semi-conductor technologies, aerospace and defence, media and entertainment, wellness and hospitality. Reddy also handles the strategy and operations in her family investment firm which had successfully executed large ticket deals such as Matrix laboratories Ltd.’s sale to Mylan Pharmaceuticals and Maa Networks Ltd.’s sale to Star India.
Pahadi Goodness Private Ltd. is one of the leading manufacturer and marketer of “Pahadi Local” branded natural beauty and wellness products. Incorporated in September 2016, currently, the company’s head office is in Mumbai and has warehousing operations in Gujarat and a manufacturing facility in Himachal Pradesh, India. It’s primary business is sales of beauty and wellness products through its own online store. Additionally the products are available nationwide in a number of stores such as Goodearth India and other leading online marketplaces such as Amazon, NYKAA, Myntra and others.