Vanity Wagon

Clean beauty marketplace Vanity Wagon has raised INR 5.5 crores as part of its pre-Series A funding round from investors led by Inflection Point Ventures. The investment round also saw the participation of existing investors, Dhianu Das from Agility Ventures and a consortium of HNI’s advised by Instarto. And also new investors such as Venture Catalysts, Lotus Herbals.

With this investment round, the start-up looks forward to improving the IT platform, marketing the company, establishing a brand, expanding the team, and acquiring private label brands. Vanity Wagon also intends to grow internationally, according to the firm.

The Vanity Wagon portal, launched in September 2018 by Prateek Ruhail, Naina Ruhail, and Sahil Shrestha, specialises in a subcategory of beauty known as Clean Beauty. The company began with ten brands and now has 151 in its portfolio, demonstrating exponential growth. Vanity Wagon now serves a global market (with Singapore as its first entry point), with a total addressable market of $11 billion predicted by 2027.

Prateek Ruhail, Co-founder and CEO of Vanity Wagon, said, “The beauty segment has been taken by a storm of clean beauty. This is driven by consumers’ demand to consume non-toxic beauty and personal care products. As brands in this segment continue to show robust growth, we see Vanity Wagon becoming a dominant marketplace in the clean beauty market in the next two to three years.”

Dhianu Das, Founder of Agility Ventures, said, “By 2026, India’s cosmetics market is expected to reach $28.9 billion. The clean beauty market will also increase in size as a result of this. Women’s purchasing power will rise as disposable income rises, as they become more sensitive of their surroundings and want only non-toxic, skin-friendly products. We anticipate Vanity Wagon’s growth as a robust marketplace of natural beauty items, as it is the market leader in organic products.”

Mitesh Shah, Co-founder of Inflection Point Ventures, said, “Modern age definition of beauty has moved far beyond fair skin. New-age brands are constantly challenging this norm and we have seen that many made-in-India beauty brands have proven that new-age women are looking for high efficacy products which are cruelty-free. Vanity Wagon’s growth has been exponential and the boom in D2C and online commerce in the beauty sector is going to empower the next level of growth for the company.”

Dr Apoorva Ranjan Sharma, President and Co-founder of Venture Catalysts, said, “Vanity Wagon is on the right growth trajectory on making its mark in the clean beauty industry with a solid team, a data-driven growth approach, and swift adaptability to the needs of the constantly evolving beauty consumers. We look forward to assisting them in securing a significant share of the clean-organic personal care market in the future.”

Online Team AsiaTech
Online Team Asia Tech is a team of Journalists, Entrepreneurs, and Enthusiast Writers who contribute to the platform by bringing everyday stories, updates, opinions and insights from the Asian Startup Ecosystem.

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