In a development highlighting its exemplary growth, Mumbai-based Pep Technologies Pvt. Ltd., which owns mCaffeine, India’s first Caffeine Infused Skin and Hair Care Brand has raised Rs 42 crore in a Series B funding round from a consortium of investors led by Amicus Capital along with RPSG Ventures and its existing investors, Telama Investments.
This is the third round of funding raised by the company so far. A majority of the investment has come from Amicus Capital and RPSG Ventures. The company last raised funds in June 2019, when it received $2 million in a Series A round of funding from a group of investors led by RPSG Ventures.
The investors have seen a huge promise in mCaffeine, India’s fastest growing new age FMCG brand with a strong potential to become one of the leading brands in the premium personal care category for millennial India.
mCaffeine, a D2C brand which focuses on young millennials, has sold more than 2.8 million products amounting to Rs. 100 crores in just 4 years of launch. As a testimony to its strong connection with its consumers, the Company has bounced back from COVID-19 disruptions to surpass its pre-COVID19 revenue run rate. While the brand is still quite young, mCaffeine products are best sellers amongst multiple categories on Amazon and Nykaa.
As the story goes, mCaffeine was founded by Vikas Lachhwani and Tarun Sharma in October of 2016 after 9 months of extensive research. The research yielded that caffeine is basically a superfood - it is a rich source of antioxidants and has several benefits for skin and hair.
mCaffeine plans to penetrate the market aggressively by giving more emphasis to a customer-driven approach especially for the young millennials of India with premium offerings.