Mumbai-based babycare startup SuperBottoms has raised Rs 3.5 crore in a venture debt funding round led by venture capital firm Alteria Capital.
Prior to this, SuperBottoms had raised $2.1 million in its Series A round from Singapore-based DSG Consumer Partners, Ash Lilani-led Saama Capital, and Kunal Bahl's Titan Capital. According to the startup, the freshly raised funds will be used to expand the product portfolio as it diversifies into the kids' category.
Speaking on the investment, Pallavi Utagi, Founder and CEO, SuperBottoms, said:
"We’ve grown into a much-loved brand, thanks to the immense trust the customers have put in our innovative, high-quality, and zero compromise sustainable products. Now, we want to widen our product portfolio to reach out to a wider base of customers and extend the lifecycle of the customers with us. We are truly very excited by the partnership with Alteria Capital.”
Founded in 2015 by Pallavi Utagi, SuperBottoms was initially started as a seller of reusable cloth diapers and baby products. Since then, it has expanded to retailing kids' underwear and sheet dryers, among other products.
“We have closely watched their growth over the last few years and have seen the genuine brand love they garner. Their products and customer-centricity are par excellence and give us great confidence,” said Ankit Agarwal, Partner at Alteria Capital.
Mumbai-based Alteria Capital is one of the leading venture debt providers with Rs 2,800 crore across 2 funds. The firm has received Rs 1,800 crore commitments from domestic investors for its second venture debt fund.
It has invested in startups like Rebel Foods, Deal share, BharatPe, Lendingkart, ZestMoney, Dunzo, Mensa Brands, Spinny, Stanza, Melorra, Mfine, Cars24, Loadshare, LBB, Beato, Maverix, Country Delight, Clover, Happay, Cropin, Exotel, Onco, Nua, Damensch, Bombay Shirt Company, Sunstone Eduversity, and Universal Sportsbiz, among several others.