Health and wellness startup: Health and wellness brand Pee Safe owned by Redcliffe Hygiene has raised $3 million, part of its targetted $6 million Series B funding round led by the pharmaceutical company Natco Pharma and Rainmatter Health backed by stock broker Zerodha’s founder Nithin Kamath and Nikhil Kamath. Existing investor Alkemi Growth Capital also participated in the round.
Vikas Bagaria, Founder and CEO, Pee Safe said, “This funding will accelerate our expansion efforts and establish us as the leading brand in the rapidly growing intimate wellness sector, which boasts a remarkable CAGR of 16 per cent. Over the past five years, Pee Safe has achieved a remarkable growth rate of 100 per cent CAGR, surpassing market expectations.”
Founded in 2013 by Vikas Bagaria and Srijana Bagaria, Pee Safe focuses on addressing the problem of Urinary tract infections faced by women due to unsanitary toilet seats and the lack of hygiene in public restrooms.
Dilip Kumar, Head of Investments, Rainmatter Health said, “The vast majority of Indian women don’t have access to safe menstrual and personal hygiene products. This is due to a lack of awareness and access, which causes preventable health issues like urinary tract infections (UTI) among millions of Indian women. Making these products widely available is the need of the hour, and we are thrilled that Pee Safe is tackling these challenges.”
The company has diversified its product portfolio to over 25 offerings including tampons, reusable menstrual pads, menstrual cups, and more. Currently, the company has over 7 lakh registered customers on its website.
“The newly acquired funds will be utilized to expand our retail presence in India, expand overseas with an omnichannel approach and allocate additional resources to marketing and awareness initiatives,” said Rithish Kumar, Co-founder, Pee Safe.
Currently, Pee Safe products we available in over 15,000 physical retail stores across over 70 cities in India along with e-commerce platforms exported to 20 countries, said Kumar.
According to a study by the consulting and advisory firm CyberMedia Research (CMR), the feminine care products market in India is projected at around Rs 5,500 crore in 2023 and is estimated to grow to Rs 11,500 crore by 2028 at a compound annual growth rate of around 13 per cent.