Natural Fragrance Brand Nirmalaya Raises $800k in Seed Funding Round
Natural Fragrance Brand Nirmalaya Raises $800k in Seed Funding Round

Founded in 2020 by Bharat Bansal, Surbhi Bansal, and Rajeev Bansal, the natural fragrance brand Nirmalaya has raised $800k in their seed funding round, led by Artha Venture Fund along with key investors including The DotIn Network, Shiprocket – Huddle Accelerator, Flawless Company Family office and other marquee angels.

Nirmalaya is a D2C brand that offers natural incense and soulful fragrance products. It manufactures and distributes a range of chemical-free, low-carbon, and eco-friendly incense and perfumes after processing floral waste collected from more than 300 temples in the NCR region.

The brand has been training and empowering over 100 female employees from low-income households by employing them in segregating and processing flower waste with highly scalable semi-automatic machines. The brand retails its products, including Havan Cups, Incense Cones, Incense Sticks, Dhoop Sticks, Essential Oils, and Ittars, through an omnichannel distribution strategy.

With the global natural incense market raking up around $1 billion in revenues, Nirmalaya aims to leverage its unique range of products to gain a firm foothold in the worldwide market.

"At Nirmalaya, we want to disrupt the way traditional fragrances get consumed. Our first step will be to expand our presence to the US and Middle East Asia regions by introducing unique and chemical-free fragrance products, including reed diffusers, and car and room fresheners, in these markets by March 2023. This geographic and product expansion will be at the core of our strategy, helping make Nirmalaya a mainstream brand known for its pure, carbon-free, and long-lasting fragrances. Ultimately, we want the leadership position in the Indian and Global incense market and export our products to more than 40 countries within the next 18 months," said  Bharat Bansal, Co-Founder and CEO of Nirmalaya.

With the company's sights firmly set on amassing more than 2,00,000 customers across India, the US, and the Middle East markets, Nirmalaya targets to reach the revenue milestone of $3.50 million in the next 16-18 months.

"We are fascinated by the solid business prospects of the circular economy. Therefore, even at a nascent stage, we are excited by the strong affinity of consumers to the Nirmalaya brand. Moreover, the founder's drive and enthusiasm towards building a flourishing, socially conscious, inclusive business is a unique brand identity that appeals to the millennial consumer in India and overseas," commented Anirudh A Damani, Artha Venture Fund.

Since launch, the brand has witnessed an average MoM growth rate of almost 25 percent and enjoys a 30 percent repeat customer rate. Servicing more than 30,000 customers only from its website and selling nearly a million units of its Havan Cups, Dhoop Sticks, and Incense Sticks and Cones already, Nirmalaya is on its way to establishing its niche in the global landscape.

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