New Delhi-based Direct-to-Consumer (D2C) startup Clensta, which sells personal and home care products, has raised over Rs 20 crore in a Series A funding round led by Venture Catalysts and Inflection Point Ventures, a Gurugram-based angel investment firm.
Besides Hem Angels, part of Hem Securities Limited, N+1 Capital (RBF), the existing investors along with other marquee investors also participated in the funding round, the statement said.
Founded in 2016 by Puneet Gupta, Clensta was initially started with the flagship products based on Waterless Technology (Waterless Body bath & Shampoo) to enable bathing without the use of water.
As a developer of waterless technology and the curator of this category, the startup has a big presence in the B2B and B2B2C segments. However, Clensta is now tapping the massive D2C segment with its Super Cleansers filled with smart concentrates for household cleaning and plans to launch an innovative technology-based personal care category, it said.
With this round of funding, Clensta will focus on scaling up the company’s sales, ramping up brand marketing, and expanding Clensta’s online and offline presence across India. The startup has achieved a CAGR of over 130% and aims to earn Rs 1000 crore revenues in the next 5 years.
Backed by IIT Delhi & DST, Clensta has more than 30 products in its portfolio. Apart from this, it also has a multichannel presence with a recurring customer base and claims to have achieved 4X growth since the last financial year.
“Clensta matlab Cleanliness, our ethos revolves around Innovation, Science and Customer Centricity. Developing innovative technology has been one of Clensta’s foremost attributes ever since its inception. Keeping in mind the Indian Home Care market size of USD 6.2 billion, we have adopted an omnichannel strategy to ensure Clensta’s presence in offline as well as online markets,” said Puneet Gupta, Founder & CEO, Clensta.
“In this light, this funding comes as an affirmation that we continue to lead in the right path. We will be focusing on developing innovative and sustainable products, enhancing our relations with customers, and marketing and expansion of our footprints across the country. We aim to use technology to scale the personal care segment and provide a personalized shopping experience to our customers,” he adds.
Speaking on the investment, Dr. Apoorva Ranjan Sharma, Co-founder & President, Venture Catalyst said: “At Venture Catalysts, we give a lot of significance to startups that work towards making the world a better place. Clensta’s innovative cleaning technology reduces the usage of water to a great extent.”
“Clensta’s entry into the D2C segment is likely to create a new category of personal and home care products. We are optimistic that Clensta will become a billion-dollar tech-driven personal care brand in the next few years. Wishing the team a great journey ahead,” Apoorva said.
Mitesh Shah, Co-Founder, Inflection Point Ventures said: “D2C wave is birthing many innovative and disruptive brands. Clensta takes the innovation further with the introduction of waterless tech in their products. Their understanding of the fast-growing D2C segment and a varied range of products in personal care impressed our investors to lead this round.”
Prior to this, Inflection Point Ventures had participated in LoanKuber’s Rs 13 crore pre-Series A round. That round also saw participation from LetsVenture and other notable investors.
“There are many D2C brands in India, while Clensta aims to have its own space in this crowded market. We have disrupted this niche but how! By ensuring that we need to be a little smart for the smarter customers, the brand has charted a growth path unlike any other in the segment and came up with a super cleanser with smart concentrates wherein you can make your own super cleanser with just the tap water. Also, it’s easy on your pockets as there is no charge for 90% of water content in a ready solution.”
“Contributing to United Nations Sustainable Development goals (UNDP), Clensta pledges to reduce the use of plastic and contribute to making our planet better and greener for all. All these things clubbed together makes Clensta a scientifically-driven and ecologically ethical impactful brand,” added Puneet Gupta.”
According to a statement, Clensta has proved its capabilities by surviving through the threat of developing and selling all together with a new product, moreover entering into the strategic tie-up with Cipla is another attribute of fast trajectory business growth.
The brand claims to have witnessed 20x growth in the last five years. With a team of IIT, IIM & SRCC grads, working experience with EY, Ogilvy, Xiaomi, Deloitte, ITC, and some cool, creative minds made this possible.
CA Pankaj Mittal, CFO at Clensta executed the entire financial transaction. Khaitan & Co. acted as Legal Advisors to the company, the statement added.
It’s worthy to mention that the startup has received appreciation from The Honourable President of India, Shri Ram Nath Kovind, and have also gained recognitions across the U.S. Embassy New Delhi (Nexus: The Innovation Hub), The Indian Biotech community, BIRAC, Falling Wall Venture & also a National Awardee.