A Mumbai-based celebrity dermatologist-backed luxury skincare startup Dr. Sheth’s has secured Rs 4 crores in a series seed round funding from Mumbai Angels and others.
Mumbai Angel Networks led the new round of funding with participation from other investors where MA invested Rs 3 crores and Rs 1 crore from other investors.
The company in its statement said that “Dr. Sheth’s will use this new round of funding for business expansion in the international markets, brand awareness as well as for developing a new product in the markets.”
Founded in 2016, Dr. Sheth’s provides a wide range of personal care products like sunscreens, brightening cleansers, antioxidant moisturizers, and toners, masks, eye creams, peels, and has several’s A-list Bollywood celebrities as its clients.
Talking about the funding from MA, Dr. Aneesh Sheth, Founder and CEO of Dr. Sheth’s said that “We are proud to be partnered with an institution like the MA Network and look forward to the value they bring in growing our brand.”
“Dr. Sheth’s is a clean beauty brand safe for consumers and derived from natural ingredients and medically tested. I also recognize South Asian Skin pigment requires a unique formulation and created a line that caters to this demographic,” Aneesh added.
Speaking on the investment in Dr. Sheth’s, Nandini Mansinghka, Managing Director and CEO, Mumbai Angels Networks said that “We see Dr. Sheth’s as a company with a sharp focus on their product line and see them growing successfully in the natural beauty market with their targeted consumer approach.
“We as a venture investment platform are backing innovative businesses and strong founders and are happy to welcome Dr. Sheth’s to the growing MA Network family,” she added.