A Gurugram-based clean beauty personal care brand, Earth Rhythm has raised $1.2 million in seed funding from Anicut Angel Fund, the equity arm of Anicut Capital. The seed funding will help the company to strengthen its efforts in R&D, product development, clinical trials, marketing, and team expansion.
Founded in 2019 by Harini and Sivakumar, Earth Rhythm offers professional-grade products in skincare, haircare, body & bath, and makeup categories. Its skincare product line brings safe and non-toxic beauty products that are not only good for your skin but are also sustainable and biodegradable.
Aims to be India’s first homegrown brand that invests in science and independent clinical trials, Earth Rhythm is Ecocert Certified, which is one of the largest certification bodies in the world and ensures that manufacturing and sourcing are par excellence. Its products combine natural raw materials and science-backed formulations with a zero-waste philosophy and each product formulation takes anywhere from months to years to perfect it and utmost care is taken when it comes to the efficacy of their products and it is for this reason that they are aligned with global standards. The company founders had their fair share of knockbacks when building the empire but have managed to pull through and created Earth Rhythm, an inspiring brand for Millennials and their needs.
The company has recorded exponential growth in revenue in May 2021 with a 4X jump as compared to last year. Being a digitally native brand, the majority of revenues (75 percent) comes directly from the D2C website. The company also partners with third-party websites like Nykaa, Amazon, and others, which contributes up to 25% of the company’s revenue.
Speaking about the funding, Harini Sivakumar, Founder & CEO, Earth Rhythm, said, "We are thrilled to see the confidence of our early investors reinforced during this round. In the long-term, Earth Rhythm envisions helping Indians who are curious and want to understand more about their skin so they can make the right decisions. Not just now, but for its ever-changing needs."
"India generates 9.46 million tonnes of plastic waste annually, of which 40 percent, remains uncollected and ends up choking drains, rivers, pilling up landfills, etc. We are conscious of the externalities of plastic and the challenges it poses to the ecological balance and would like to make a small but tangible difference in the environment with Earth Rhythm. We reduce what we need, reuse as much as we can, send little to be recycled, and compost what we cannot," she further added.
Ashvin Chadha, Co-Founder, Anicut Angel Fund, stated, "We are privileged and delighted to partner with Harini, Sivakumar, and the entire Earth Rhythm team as they march ahead in their mission to re-imagine the cosmetic market for Indians. We have been extremely impressed by Earth Rhythm’s product innovations, growth trajectory, and customer love, all early signs that Earth Rhythm is destined to become India’s first homegrown brand that invests in science and independent clinical trials for ecological balance."
In a strategic move reinforcing its commitment to Madhya Pradesh's economic landscape, Hindustan Coca-Cola Beverages (HCCB), a prominent FMCG player in India, has disclosed a Rs 350 crore investment in the state. This announcement, made during a meeting between the Chief Minister of Madhya Pradesh, Dr. Mohan Yadav, and a senior HCCB delegation, propels the company's cumulative investment in the state to over Rs 660 crore.
The capital injection will fuel the establishment of two cutting-edge manufacturing lines at HCCB's Rajgarh factory, dedicated to producing Affordable Small Sparkling Packs (ASSP) and Juice Tetra Packs. Beyond expanding manufacturing capabilities, this move is poised to make a substantial contribution to the state's economy. With a robust network of 149 distributors and 127,080 retailers, HCCB plays a pivotal role in Madhya Pradesh's retail sector, distributing approximately 10 million cases across 29 districts.
In reciprocation, the Madhya Pradesh Government has committed comprehensive support to expedite HCCB's procurement of necessary permissions, approvals, and clearances, aligning with the state's policies and regulations.
Himanshu Priyadarshi, Chief Public Affairs, Communications, and Sustainability Officer at HCCB, stated, “This investment is a significant step in our journey with Madhya Pradesh - a state that is poised for growth and development. We see this as an opportunity to deepen our commitment and align our growth with the state’s vision. This is more than an expansion of our business operations; it is about reinforcing our roots in a state that is key to our market strategy and a hub for innovation. We envisage this project as a catalyst not only for regional economic growth but also as a conduit for nurturing local talent, thereby contributing to the socio-economic progress of Madhya Pradesh.”
Having invested over Rs 311 crore in Madhya Pradesh since 2000, including recent expansions in 2022 and 2023, HCCB has consistently demonstrated its commitment to enhancing production capabilities and supporting the local economy. This latest financial commitment not only cements its industrial presence in the state but also aligns with HCCB's dedication to delivering innovative and high-quality products to consumers in Madhya Pradesh.
HCCB's engagement in Madhya Pradesh transcends business investments, extending to Corporate Social Responsibility (CSR) initiatives. These projects focus on water rejuvenation, skill development, and sustainable agriculture. Notably, the initiatives have impacted 1200 youths in sales and marketing training, 1500 women in digital and financial literacy, and over 100 farmers in adopting sustainable agricultural practices. Additionally, HCCB has facilitated the installation of water ATMs and Smartboards, contributing to community resources.
Copyright © 2009 - 2024 Franchise India Holdings Ltd