Mamaearth raises $50 million led by Sofina, valued at $730 million

Mamearth, one of India's hottest new-age consumer brands, was valued at $730 million in its latest funding round, more than double from less than a year ago.

Baby and skincare products startup Mamaearth said on July 26 that it had raised $50 million in a funding round led by Belgian investor Sofina Ventures, valuing it at $730 million.

Mamaearth's early investors Fireside Ventures, Stellaris Venture Partners, Sharp Ventures and Titan Capital also sold a portion of their stake in the round.

Founded in 2016 by husband-wife duo Varun and Ghazal Alagh, Mamaearth has emerged as one of the hottest new-age consumer brands in India, riding the so called direct-to-consumer wave, where brands sell to consumers directly from their website or via ecommerce platforms, rather than going the traditional and expensive offline route.

It offers more than 80 toxin-free, natural products, including bamboo-based baby wipes, face masks, lotions, and hair care products. It also launched a second brand, Derma Co, late last year.