The funds will be utilised towards product research and development, inventory buildup and expansion of its product portfolio.
MCaffeine, a Mumbai-based caffeinated personal care brand, has raised USD 500,000 in its latest funding round.
The pre-series A investment round was led by Wazir Advisors, Let’s Venture and Calcutta Angels. The funds will be utilised towards product research and development, Â inventory buildup and expansion of its product portfolio.
MCaffeine was launched in 2015 by Vikas Lachhwani and Tarun Sharma.
“We see a potential market in the young millennials, which we believe is underserved by the incumbent brands and products. Hence, we are looking to build a brand which reflects the millennial lifestyle and aspirations. MCaffeine is sensitive to the social message it communicates and does openly detest fairness products. Our aim is to make a compelling proposition in the consumer products market in order to drive our product and brand philosophy, ” said Vikas Lachhwani, Co-founder of MCaffeine.
The company is digitally native vertical brand (DNVB) which sells on more than 20 e-commerce websites in India.
“MCaffeine as a brand has the pulse of the new generation. They understand the physical and emotional needs of their market. What they have been able to achieve in such a limited time is really commendable,” said Harminder Sahni, Founder of Wazir Advisors.
