ITC increases its stake in Mother Sparsh with fresh investment of Rs 13.5 crore

Premium baby and mother care brand Mother Sparsh has declared that it is in advanced discussions of securing Series B funding between Rs 90-100 crore shortly, with diversified FMCG conglomerate ITC infusing Rs 13.5 crore.

While announcing the Series B funding round with multiple investors partaking, the D2C homegrown baby care brand said that it intends to enhance its portfolio significantly, especially across baby skin care and mother-oriented segments.

Notably, the funding announcement comes close on the heels of the brand’s foray into the diaper segment, which constitutes a major chunk of the baby care market, with the launch of plant-powered cloth diapers.

Mother Sparsh said that the objective behind the Series B funding round is to enhance R&D and foster innovation in the critical baby and mom care segment alongside sustained product portfolio diversification.

“An intrinsic innovative streak as a brand and the ethos of crafting products on need-based propositions by the virtue of nature-oriented solutions is at the heart of Mother Sparsh. Our recurrent funding aims to strengthen this mission through R&D in space and offering one-of-its-kind solutions for the needs of mothers and their little ones,” said Mother Sparsh Co-Founder and CEO Himanshu.

As a D2C brand, Mother Sparsh does majority of its sales through online channels, including its own website, and offers a range of targeted personal care solutions for moms, infants and kids.

Less than a year ago, the brand had raised Series A funding from ITC in November last year.

Info@BestMediaInfo.com