Following the funding deal, Mandhana will also be the brand ambassador of Neem Ayu
Neem Ayu will use the fresh funds to grow its PAN India presence and expand product offerings
Founded in 2021 by Aditi Hingu, Dr Neena Sharma and Vipul Gupta, the D2C brand offers a slew of ayurvedic products such as anti-dandruff and hairfall products
Indian Women Cricket team’s vice-captain Smriti Mandhana has invested an undisclosed sum in Gurugram-based ayurvedic startup brand Neem Ayu.
It is the first time when an Indian woman cricketer has invested into a startup. Following the funding deal, Mandhana will also be the brand ambassador of Neem Ayu.
The startup will use the funds to grow its PAN India presence and expand product offerings.
Commenting on the fundraising, Mandhana said, “What made me immediately trust in Neem Ayu’s brand proposition was that its foundation lies in time-tested efficacy of Indian Ayurveda backed by intensive research. These products promise to show results effectively.”
Founded in 2021 by Aditi Hingu, Dr Neena Sharma and Vipul Gupta, the D2C startup brand offers a slew of ayurvedic products such as anti-dandruff and hairfall products. The founding team comes with years of experience of working in the FMCG industry. Some of the companies that they previously worked with include: Hindustan Unilever, Kellogg’s, Cadbury, Emami, Yebhi.com, GSK and Colgate Palmolive.
“With Neem Ayu, Mandhana also begins another chapter by turning an investor. Having her belief in our brand and products will take us further in our mission to offer clinically tested and effective solutions to real issues like hair fall and dandruff, which impact a majority of our population today,” Hingu said.
Neem Ayu sells its products through its website and ecommerce marketplaces such as Amazon, Flipkart and Purplle. It is looking to launch skincare products in three to four months and expand presence across the domestic market.
In the D2C segment, the startup competes with ayurvedic startups including Durmeric and The Ayurvedic Company.
India’s D2C market, which is poised to grow $5.6 Bn by 2025, is one of the growing sectors in India. At present, a host of companies such as SUGAR Cosmetics, WOW Skin Science, and BBLUNT are operating in the space.
Besides, the D2C sector is also witnessing a slew of fundraising. Examples include: WOW Skin Science raising an undisclosed funds, SUGAR Cosmetics securing $50 Mn and Plum raising funds from Indian actress Rashmika Mandanna in the last few months
