Gurugram-based D2C brand SVISH On-The-Go has raised INR 10 Cr from marquee investors Wami Capital and LC Nueva AIF
The D2C brand claims to have witnessed a 900% growth in revenue and a 300% increase in its average order value in less than a year
For FY23, the brand is targeting INR 22-25 Cr in revenue
Personal hygiene D2C brand SVISH On-The-Go has raised INR 10 Cr in a pre-Series A funding round led by Wami Capital. The funding round also saw participation from its existing investor LC Nueva AIF. Brightbridge Advisors was the investment banking partner for this transaction.
According to the Gurugram-based D2C brand, the fresh funds will be utilised to expand its product portfolio in the body and oral categories, raise awareness about personal and intimate hygiene and strengthen customer engagement strategies.
Commenting on the investment, Chetan Mehta, CEO of Wami Capital, said, “Hygiene as a category is very neglected in India, especially men’s hygiene. We believe that SVISH has the power to disrupt the intimate men’s hygiene market.”
Founded in 2020 by Ishan Grover and Jaideep Mahajan, SVISH On-The-Go had raised INR 400K in its Seed funding from LC Nueva AIF in September 2021. The D2C brand has 12 SKUs under three categories — sanitisation, hair hygiene and ‘below the belt’ hygiene. Grover told Inc42 that 90% of its sales happen in the men’s hygiene category.
“Majority of our customers are GenZ and millennial men. We’ve noticed that the women hygiene market is overcrowded but there’s a dearth of products in the men’s hygiene category. So, we decided to close this gap and bring 100% natural products for men as well,” said SVISH’s cofounder & CEO, Ishan Grover.
The D2C brand claimed to have witnessed a 900% growth in revenue and a 300% increase in its average order value in less than a year. Additionally, Grover disclosed that SVISH’s website traffic also increased by 2,000% in less than a year. The D2C brand claimed that it had earned INR 6 Cr in FY22 and is targeting INR 22-25 Cr in revenue in FY23.
A Brand For ‘On The Go’ Consumers
“It is a testament to SVISH’s amazing growth and unique brand value, that we have decided to top up our investment. SVISH is solving crucial lifestyle and hygiene issues faced by modern men and women, and their market is just beginning to prosper,” said Ashish Chand, founding partner of LC Nueva AIF.
Grover, a craft brewer and Mahajan, an advertising professional began their entrepreneurial journey in 2020, when Covid-19 was at its peak and there was a sudden spike in demand for products such as sanitisers, face masks and gloves.
They noticed that the sanitisers available in the market were either too oily or too sticky. “There was a clear need for a product that not only kills germs but also takes care of your skin and uplifts your mood,” said Grover.
The duo launched SVISH with a range of skin-friendly and non-sticky sanitising products including gadget disinfectant wipes and hand sanitisers. “Our aerosol-based hand sanitisers are just like deodorants. The no-gas formula is gentle on the skin and protects you from germs and bacteria,” said Grover.
In 2022, the D2C brand introduced its range of personal and intimate hygiene products for men and women that are not only eco-friendly but also appeal to the young users, Grover said.
“SVISH’s novel design and unique packaging appeals to the GenZ and millennial users who are its early adopters. We are excited to back the founders’ vision of building a scalable business and a global brand in the hygiene category,” said Wami Capital’s Mehta.
Besides its own website (where majority of sales happen), the brand also leverages an omnichannel approach. It is available on online marketplaces such as Amazon and BigBasket and has an offline presence across several retail stores such as WHSmith in 500 airports in India. Grover credits the brand’s on ground presence and quirky marketing tactics for its tremendous growth.
In December 2021, SVISH partnered with Sunburn Festival (Goa) as its official hygiene partner. “We took over some toilets and called it the SVISH spot. Our ‘commode’ squad made sure that it was the cleanest toilet spot,” said Grover.
He claimed that the campaign response was very positive and the brand will be utilising the fresh funding to replicate similar SVISH spots across nightclubs, concerts, restaurants and sporting events in India. “We have some very interesting campaign ideas for FY23,” he added.
The Rise Of India’s Personal Hygiene Market
The increased demand for hygiene products such as sanitisers, masks, gloves and disinfectants in the wake of the pandemic has surely given a boost to the global personal hygiene market. According to Allied Market Research, the global personal hygiene market is projected to reach $720.7 Bn by 2030 – growing at a CAGR of 3.6% from 2021 to 2030.
In India, the scenario isn’t too different. According to Statista, India’s personal hygiene market is expected to reach $15 Bn by 2023 – a 30% increase from 2019. Unsurprisingly, this rise is a direct outcome of growing hygiene awareness and lifestyle changes, especially since the Covid-19 outbreak.
While conglomerates such as Hindustan Unilever and Procter & Gamble have led the personal hygiene segment in India, D2C brands are not far behind. Brands such as Pee Safe, The Man Company, Nua, SVISH and the ilk are taking on these giants with their personalised offerings and innovative products. It will be interesting to see how these new age brands disrupt this burgeoning market and make personal hygiene an integral part of their consumers’ lifestyle.