Magnificence and private care conglomerate Good Glamm Group has accomplished the acquisition of Sirona Hygiene for Rs 450 crore (roughly $60 million) in an all-cash deal, marking one of many largest money exits for a direct-to-consumer (D2C) startup in India, particularly within the FemTech house.
Co-founders Deep Bajaj and Mohit Bajaj had stepped down from their energetic roles early this yr and have now resigned as energetic administrators too, paving the best way for a brand new chapter in Sirona’s journey.
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Darpan Sanghvi, group founder and CEO, Good Glamm Group stated the belief of Sirona founders in Good Glamm Group’s imaginative and prescient has been instrumental on this acquisition.
“We share a standard objective of empowering girls by progressive and accessible well being options,” stated Sanghvi.
Valued at over Rs 450 crore, the group stated the deal reinforces the arrogance the market has in Sirona’s progressive strategy. The transaction has additionally offered windfall advantages to Sirona’s staff by accelerated ESOP (worker inventory possession plan) vesting, leading to early monetary positive factors.
Based in 2014-15, Sirona affords a variety of merchandise that cater to girls from puberty to menopause. The model has launched improvements akin to PeeBuddy, stand-and-pee gadget for girls and merchandise like natural interval ache patches, exhaustive menstrual cups vary, interval stain removers, anti-chafing rash lotions and sanitary disposal luggage.
“From PeeBuddy, now utilized by over 3 million girls, to Sirona menstrual cups, utilized by 4 million girls as a pad various, we’ve constructed India’s highest-selling D2C female hygiene model,” Deep stated.
“It hasn’t been a straightforward street — bootstrapping, overcoming fundraising challenges, breaking taboos, and coping with copycats — we’ve seen all of it. This all-cash acquisition appears like validation for all of the exhausting work,” Deep stated.
In 2022, Good Glamm Group invested Rs 100 crore in Sirona by main and secondary investments, delivering substantial returns of 6x to 20x for early angel and seed buyers. Since then, Sirona has tripled its revenues in simply 24 months. Their pay it ahead arm Sirona Basis additionally educated over 100,000 women on the significance of menstrual hygiene and donated over 10,000 cups to girls in want throughout this era.
Sirona has seamlessly built-in know-how into its merchandise, launching India’s first WhatsApp interval tracker and constructing a vibrant on-line group by its app. It has additionally taken daring steps to reinforce female hygiene accessibility, putting in female hygiene merchandising pods at Delhi airport. It additionally acquired IMpower, a girls’s security pepper spray model, and India’s first vegan condom model, BLEU.
“Constructing Sirona wasn’t simple — there have been moments of battle, doubt, and hardship. However by all of it, what stored us going was the unwavering perception in our mission and the belief of those that stood by us,” stated Mohit concerning the deal. “This second is each bittersweet and a proud validation of a decade’s price of labor.”
First Revealed: Oct 11 2024 | 12:49 AM IST