Clensta to Strengthen Presence in Homecare Category
Clensta to Strengthen Presence in Homecare Category

Clensta, an IIT Delhi partnered Startup, becomes one of the first companies to receive Rs 50 million as funding from N+1 Capital. This fast-growing startup providing innovative personal care and home care solutions has recently had a strategic tie-up with the pharma brand Cipla for its first commercialized products waterless bodybath and waterless shampoo.

Clensta is now all set to utilize the funds raised from N+1 for scaling up the upcoming products for the Homecare category.

Revenue-based growth capital firm N+1 Capital has received approval from the Securities and Exchanges Board of India (SEBI) for its first investment debt fund in order to deploy capital in India. The vision behind these $100 million funds is to provide 100+ entrepreneurs to grow their businesses profitably and sustainably through their growth stage. The benefits for entrepreneurs include no personal guarantee at stake, a tech-driven risk scoring model, have greater flexibility, and constant capital infusion. It also provides credibility, assurance, builds trust, and reduces the time load for due diligence for the upcoming investors.

Clensta Eyes to Scale Homecare Category Products

Clensta is focused to exceeded each of its core financial goals; organic sales growth, core earnings per share growth, and adjusted free cash flow productivity, all while improving market share and generating leadership levels of shareholder value creation. At the same time, N+1 capital values innovation, data-driven analysis, agility of the funding cycle, empathy, and persistence. Clensta qualifies for these values and is among the pioneer company for India's first revenue-based debt fund.

Rahul Chowdhury, Managing Partner, N+1 Capital, said, "N+1 is sector agnostic, and the qualifying criteria are actually steady-state, as well as growing startups and MSEs with minimum monthly revenue of Rs 50 lakh, and at least 30 percent gross margin. Having said that, the fund is currently working with SaaS startups and some Direct-to-Consumer (D2C) startups."

Speaking on the occasion, Puneet Gupta, CEO & Founder, Clensta International, stated, "While we appreciate the progress, what really matters at this point of time is the scalability of the developed products. We already have a strong B2B2C presence with 500+ hospitals and 25,000+ retail outlets including pharmacies, as now our business demands to penetrate through the D2C channels as well, this debt fund helps us grow further and reach out to consumers at a faster pace. Also, provide us the opportunity to expand offline as well online covers all important aspects of the sales channel. It's a great opportunity that venture capitalist firms like N+1 have introduced revenue-based fund in India which is most popular in the west and are providing the startup ecosystem a thrust to move forward."

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