The VC firm’s beauty and personal care arm Guardian plans to further increase its stake in Anveya Living going forward
The D2C personal care startup reportedly plans to use the fresh capital to launch new products and expand presence globally
Founded in 2018, Anveya Living is a BPC startup that sells products such as hair colours, hair serums, body oils, among others under its three brands
Venture capital firm Ananta Capital’s beauty and wellness arm Guardian has acquired a 55% stake in D2C personal care startup Anveya Living for an undisclosed amount.
Guardian plans to increase its stake in Anveya Living going forward, Economic Times reported. Anveya Living houses three D2C brands – ThriveCo, Curlvana, and Anveya.
The D2C personal care startup plans to use the capital to launch new products and expand presence globally.
“The fresh capital infused in the business will be utilised towards development and launch of new products across hair and skincare categories and expand in the global markets,” Anveya Living cofounders Vivek Singh and Saurav Patnaik said in a joint statement.
Commenting on the stake acquisition, Guardian and Ananta Capital board members Ashutosh Taparia and Sanjeev Taparia said, “We will continue to explore further acquisitions in the beauty and wellness categories and build them under a unified balance sheet to drive maximum synergies.”
The integration of Anveya Living into Guardian’s fold is expected to yield “significant operating leverage” across functions and enable the startup to access the VC firm’s online and offline distribution across the country.
Founded in 2018 by Singh and Patnaik, Anveya Living is a beauty and personal care startup that sells products such as hair colours, hair serums, body oils, among others under its three brands.
Anveya Living currently offers 100+ SKUs and has plans to launch 10 more SKUs in the coming year. It also plans to expand its footprint to new markets such as the US, Europe, and the Middle East.
Anveya Living also featured on the 2024 edition of Inc42’s coveted FAST42 list.
Backed by Rukam Capital, the Bengaluru-based startup has raised INR 23 Cr in funding till date. It competes with the likes of Paradyes and Fix My Curls.
On the other hand, Ananta Capital’s Guardian has a slew of D2C beauty and personal care (BPC) brands under its belt, like Bella Vita, Bevzilla, BetterAlt, and Springwel Mattresses. Its portfolio covers brands across skincare, perfume, health, wellness, pharmacy and beverages sectors. Guardian claims that its portfolio brands have 400+ SKUs under their belt.
The acquisition comes at a time when the Indian D2C beauty and personal care space continues to see rapid adoption on the back of affordable smartphones and internet tariffs. Inc42 estimates the homegrown BPC market to grow to a size of $37.2 Bn by 2025.
As a result, the space continues to see healthy investor interest. Last week, Lotus Herbals announced a $50 Mn fund to invest in early stage startups in the beauty category. Earlier this month, D2C beauty brand RENEE Cosmetics bagged INR 100 Cr in its Series B1 funding round co-led by Evolvence India and Edelweiss Group.
