We Founder Circle (WFC), a startup investment platform, in continuation of its mission to seed fund early-stage startups, has invested in Avni, a startup focussed on conscious and holistic menstrual care.
The brand offers a wide range of menstrual care products including – Avni reusable cloth pads, Avni organic cotton pads, and Avni menstrual cups.
The seed round also witnessed participation from Amit Tyagi, an entrepreneur turned investor, Srikanth Iyengar, a senior executive in the technology services industry, and an investor in edtech, healthcare, and consumer startups.
“The company plans to utilize funds in product development and expanding the product line. It also plans to exhaust a part of the fundraising in creating more awareness through various on-ground initiatives,” Anvi said.
Speaking on the fundraise, Ms. Sujata Pawar, Co-Founder of Avni, said, “Currently, what we see in the market is a lot of chemical-based products that cause serious vaginal diseases and skin problems. This turns out to be a bigger challenge for women with sensitive skin. We are trying to provide natural and reusable solutions so that women do not have to compromise by using plastic and chemical-based products.”
“We started with antimicrobial reusable and organic cotton sanitary pads as 80 % of the market share of feminine products is dominated by the pads. Gradually, we moved on to launch more products in the menstrual care category. Until now we have already served over 5000 women,” Sujata added.
Commenting on the fundraise Sujata added, “We strategically raised a small amount in this round. Keeping our growth plans in mind we aim at a bigger round by August 2021.”
“The market of feminine hygiene products is expected to grow to INR 58.62 billion by 2024. And with innovative startups like Avni coming into the play, there will be a niche of customers for natural options. Space is less penetrated and not so competitive yet. This highlights the abundant scope it holds,” said Mr. Neeraj Tyagi- Co-Founder and CEO, We Founder Circle.