Honasa Consumer, the parent company of direct-to-consumer (D2C) brand Mamaearth, has acquired woman-focused content platform Momspresso and its associated influencer engagement platform Momspresso MyMoney for an undisclosed amount.
Company statements reveal that post-acquisition Momspresso will continue to function as an independent unit with its founding team. The co-founders of the company, Vishal Gupta (CEO), Asif Mohamed (CTO) and Prashant Sinha (COO) will lead the operations and manage the business.
With the freshly infused capital received by the company through the acquisition, Momspresso will utilize the funds towards enhancing the team, building data-science capability and investing in technology to drive scale and efficiency.
This announcement comes on the back of a series of consolidations in the broader D2C segment led by The Good Glamm group which has acquired multiple smaller brands in the past year including the most recent acquisition of talent management network MissMalini Entertainment.
Talking about the recent acquisition, Varun Alagh, co-founder and CEO of HCPL, said, “We have experienced exponential growth due to our constant connection with community and consumers and the partnership with Momspresso will further scale up our creator network.”
Momspresso’s CEO, Vishal Gupta commented upon the recent acquisition spree by stating, “Together, we are uniquely positioned to unlock synergies in creating a compelling content to commerce playbook.”