Ahmedabad-based Ecotrail Personal Care Pvt. Ltd. that owns the personal care and cosmetics brand – Iba Halal Care – has raised Rs 15 crore in series A1 funding from Bangalore-based Addvantis Enterprises, LLP. that owns the ayurvedic aromatherapy skin care and hair care brand – Vedaearth.
Iba Halal Care was launched in 2014 by two women entrepreneurs, Mauli Teli and Grishma Teli. Prior to this round, the brand raised Rs 6 crore series A funding from GVFL Ltd in August 2017.
Iba is India’s first and only halal certified and vegan brand of personal care and cosmetics products offering over 100 SKUs across skin care, hair care, makeup and fragrances.
Mauli Teli, CEO of Ecotrail Personal Care Pvt. Ltd., said, “We are thrilled to have raised this round of funding from Addvantis Enterprises, LLP. Having proven the product-market fit which fills the need gap among consumers for ethical personal care products that align with their lifestyle and are safe and effective as well, we now plan to scale the brand nationally both through expansion in the general trade and online channels within India and also cater to the growing export market demand. We have the first mover advantage by being the only brand in India that has a full range of halal certified and vegan cosmetics which are of high quality and affordable. We intend to maintain the same by investing in brand awareness and product availability to our target customers. We target 5X growth this financial year compared to the last and are on track to achieve a Rs 100 crore annual revenue run rate by 2021.”