Millenium Babycares is a D2C baby care brand offering pant-style diapers and newborn baby care products. The startup secured Rs 122 crore in its fresh funding round from Pantomath Capital’s Bharat Value Fund. The funding round saw the participation of the firm’s new and existing investors.
The startup provides its products through online platforms like Flipkart and Amazon. The company plans to use these fresh proceeds to scale its operations, enhance its platform, expand its manufacturing capabilities, and develop its market presence.
The startup intends to use some of its investment to enhance its presence in the general trade and export market. The firm offers its products in sizes ranging from newborn to extra large and XXXL sizes. The company operates its services across three segments: baby care, adult care, and fem care. Millenium Babycares also produces baby diapers under the brand named “Bumtum” while the “Eluro” brand provides adult incontinence products.
Freeme offers sanitary napkins and other hygiene products. The company manufactures diapers using soft fresh material and 360-degree soft elastic bands to prevent the baby’s skin from rashes. The diaper came with a wetness indicator. The startup aims to use this investment and expand its brand presence in the baby care market segment.
The Indore-based company claims to produce over 4 million baby diapers daily. The firm has a production capacity of 500,000 sanitary napkins and 100,000 adult diapers per day. Etrackr reported the development first. This marks the first funding round for the baby care product offering startup.
The company intends to strengthen its quick-commerce presence and increase its manufacturing capability. The startup data intelligence platform, tracxn mentioned Millenium Baby Care’s valuation to be around 30.9 million USD as of March 2023. The development came just after the D2C baby care sector saw increased investor interest.
The startup reported a revenue of Rs 585 crore for the financial year 2023-24. The company posted that it achieved a remarkable compound annual growth rate of 53 percent from FY20 to FY24. The startup generated over Rs 150 crore in revenue for the last financial year.
The company is yet to disclose the financial results for FY24. Millenium Baby Cares is expected to reach a higher valuation after the new funding round. The Baby Care brand faces competition from companies like A Toddler Thing, Signovate Technologies, and Ammy.
Conclusion :
Baby care products producing D2C baby care startup, Millennium Baby Care secured 14.5 million USD million in its fresh funding round from Bharat Value Fund. The startup plans to use this fresh capital to scale its operations, improve its production capability, and develop its market presence.
The company mainly aims to use this new investment to enhance general trade and export markets. The company provides pant-style diapers for newborn babies and sanitary napkins for adults across its three brands. The development came just after the D2C sector saw increased investor interest. The company competes with other D2C companies that produce baby diapers such as a Toddler Thing.
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