Mamaearth was founded in September 2016 by Ghazal Alagh and Varun Alagh, to make skincare routines a little chic but with utmost care.
When Varun and Ghazal were expecting their first child, they realized that the baby care products they came across contained harmful toxins and safer alternatives weren't available.
Incorporated as Honasa Consumer Private Limited, Mamaearth started with the launch of six toxin-free baby products.
Two years on, it expanded into categories like skincare and haircare, which today account for 80 per cent of its sales, as per a report.
Mamaearth was initially started with an investment of around Rs 90 lakh, which Varun and Ghazal invested out of their own pockets.
Mamaearth raised seed funding of $125K in December 2016 from Fireside Ventures, and till now it has raised $126 million in 8 rounds.
Today, it services over 5 million customers in 500-odd cities. Last year, it became a unicorn (it is currently valued at $1.2 billion) and also turned a profit (Rs 14 crore) for the first time.
Mamaearth is now planning for Initial Public Offering (IPO) aiming to raise Rs 1,701 crorefrom the market by valuing it at Rs 10,425 crore.
A mother’s desperation combined with a clear whitespace in the domestic babycare market prompted her (and her husband) to start Mamaearth.