Soothe Healthcare, the fastest-growing personal hygiene company and maker of Paree Sanitary Pads, announced a fresh round of funding of Rs 120 crore from its existing investors and another Rs 55 crore from the U.S. International Development Finance Corporation (DFC). The existing partners include A91, Symphony, Sixth Sense, and GII.
The brand will utilize the raised capital to further grow its distribution channels and deepen its reach to women across tier II and III markets. The funds will also be used to amplify marketing outreach and spread a wider social message on women's menstrual hygiene. This is in line with DFC’s Global Health and Prosperity Initiative and 2X Women’s Initiative, through which DFC seeks to empower women and help them achieve the economic tools to prioritize their health and hygiene needs.
The association between DFC and Soothe Healthcare was facilitated by Intellecap, the exclusive transaction advisor.
Sahil Dharia, Founder and CEO, Soothe Healthcare, said, "Raising a meaningful amount from existing partners and US Govt. DFC validates our brand's commitment to prioritize menstrual hygiene access, product, people, and communities. Our endeavor is to provide women with high-quality products at great value. Our value proposition and social impact-driven business model has helped establish Paree Sanitary Pads as a trusted personal hygiene brand across India. This fresh inflow of funds will help us reach women across wider geographies.”
Abhay Panday, General Partner, A91 Partners commented, “We continue to be believers in the business opportunity in women’s hygiene and Soothe’s a relentless focus on building a high-quality Indian brand in the space.”
Paree Sanitary Pads was launched in 2016 through offline FMCG distribution channels. The young brand has since then raised several rounds of investments from several blue-chip funds. Further to the Rs 230 crore. funding raised by the brand last year, the brand had been breaking new ground in terms of product innovations, expanding the business by adding new product verticals in a common distribution channel, and doubling its manufacturing capabilities.