Homegrown Vegan Personal Care Brand ‘Juicy Chemistry’ Raises Rs. 46 Crore in Series A Funding

16 March 2021

In a successful Series A funding round, the Indian vegan skincare and haircare company Juicy Chemistry has bagged Rs. 46 crore. This is the largest Series A raise in the D2C beauty segment, according to the company’s press release. 

The funding round for the Coimbatore-based brand was led by Verlinvest, a Belgian investment firm, with Veda Corporate Advisors as the exclusive financial advisor for this transaction.

Founded by Megha and Pritesh Asher in 2014, the company envisions clean beauty through their vegan and cruelty-free products formulated from certified organic ingredients. They offer skincare, haircare and body care products such as cleansers, soaps, moisturizers, baby oils and more.

Juicy Chemistry was bootstrapped until it led an angel round from investor Amit Nanavati in 2019. This financial year resulted in a 300% increase in their revenues, and the brand is aiming to expand in the global market next year. 

Juicy Chemistry Founders Pritesh and Megha Asher

“We are excited to start our journey with Juicy Chemistry, which forms part of our global effort in backing unique digital-first beauty brands for the long term. Verlinvest looks for authentic and passionate entrepreneurs who are creating a consumer revolution using their product and brand stories,” stated Arjun Anand, executive director at Verlinvest.

The increase in popularity of vegan personal care has led to a growth in the industry globally, with an estimated value of USD 20.8 billion by 2025, according to a report by Grand View Research. Another Indian vegan beauty brand, Plum, raised Rs. 110 crore in Series B funding in December 2020. Other homegrown vegan cosmetic and personal care brands include Vedaearth, Disguise Cosmetics, Fae Beauty and PHY.