Exclusive: Shark Tank Fame Perfora Raises INR 40 Cr From RPSG Capital

Direct-to-consumer (D2C) oral care startup Perfora has raised INR 39.8 Cr (about $4.7 Mn) in a funding round led by existing investor RPSG Capital Ventures.

The round also saw participation from Sauce VC, Lotus Herbals Family Office, Sara International Family Office, and several individual investors, as per its regulatory filings.

The startup plans to use the funds to expand its product portfolio.

An email sent to Perfora founder Jatan Bawa seeking details about the funding round didn’t elicit any response till the time of publishing this story. 

Prior to this funding round, the startup raised $2.5 Mn from RPSG Capital Ventures in February 2023. Back then, it said it would utilise the funds to scale its online presence. 

Founded in August 2021 by Bawa and Tushar Khurana, the Delhi NCR-based startup sells oral care products including electric toothbrush, probiotic mouthwash, smart flosser, and peroxide-free teeth whitening pen, among others. It shot to fame after it appeared in TV show Shark Tank India.

With the latest round, Perfora has raised a total funding of $8.4 Mn till date. It also counts angel investors such as boAt’s Aman Gupta and Sameer Mehta, Vadham Teas’ Bala Sarda, and The Whole Truth’s Shashank Mehta among its backers. 

Its sales surged 970% to INR 15 Cr in the financial year 2022-23(FY23) from INR 1.4 Cr in the previous year. Net loss also zoomed 5X to INR 4.9 Cr from INR 1 Cr in FY22.

Perfora competes with the likes of Patanjali, Biotique, Colgate, among others. 

The latest development comes at a time when D2C startups have been receiving a lot of interest from investors on the back of their rapid growth over the last few years. Last week, D2C fitness startup Boldfit raised INR 110 Cr (about $13 Mn) from Bessemer Venture Partners.

Prior to that, D2C lifestyle brand Zouk bagged $10 Mn (about INR 84 Cr) in a funding round led by Aavishkaar Capital.