[Funding Alert] Nirmalaya raises $800K Seed Funding led by Artha Venture Fund

Nirmalaya

NCR-based natural fragrance brand Nirmalaya has raised $800,000 in a Seed funding round led by Artha Venture Fund along with key investors including The DotIn Network, Shiprocket, Huddle Accelerator, Flawless Company Family office and other marquee angels.

Founded in 2020 by Bharat Bansal, Surbhi Bansal and Rajeev Bansal, Nirmalaya is a D2C brand offering natural incense and soulful fragrance products. It manufactures and distributes a range of chemical-free, low-carbon and eco-friendly fragrances and perfumes after processing floral waste collected from over 300 temples in the NCR region.

Bharat Bansal, Co-founder and CEO of Nirmalaya, said, “At Nirmalaya, we want to disrupt the way traditional fragrances are consumed. Our first step will be to expand our presence into the US and the Middle East Asian regions by introducing unique chemical-free fragrance products, including reed diffusers and car and room fresheners in these markets by 23. March.”

He added, ” This geographic and product expansion will be at the core of our strategy to help make Nirmalaya a mainstream brand known for its pure, carbon-free and long-lasting fragrances. Ultimately, we want to be a leader in the Indian and global incense market, and over the next 18 months we will be exporting our products to more than 40 countries.”

Anirudh A Damani of Artha Venture Fund, said, “We are fascinated by the solid business prospects of the circular economy. That is why, even at its nascent stage, we are excited by the strong consumer affinity for the Nirmalaya brand. Moreover, the founder’s passion and drive to build a thriving, socially conscious, inclusive business is a unique brand identity that appeals to millennial consumers in India and overseas.” 

Nirmalaya has seen an average M-o-M growth rate of 25 percent and enjoys a 30 percent repeat customer count, one of the highest metrics among any company operating in the natural fragrance market today. Nirmalaya aims to achieve a revenue milestone of $3.5 million in the next 16 to 18 months, the company said in a statement.

They train and empower more than 100 women workers from low-income households by employing them to sort and process flower waste using highly scalable semi-automatic machines.

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