Feminine hygiene startup Sirona raises Rs 100 cr from Good Glamm Group

Feminine hygiene startup Sirona on Tuesday said it has raised Rs 100 crore in Series-B funding from Good Glamm Group. The round also saw secondary buyout with early investors including seed and angel investors taking an exit, a statement said. Sirona, which makes products like PeeBuddy and menstrual cups, said it aims to hit the Rs 500 crore revenue mark in three years.

This is one of the largest amounts invested in a Series B round for a direct-to-consumer (DTC) feminine hygiene startup.

Despite a huge taboo, the company has successfully changed many old habits by offering products in this category – nearly 1 million women use Sirona Menstrual Cups, over 3 million units of PeeBuddy and over 400,000 Sirona Feminine Pain Relief Patches have been sold, making the company pioneers in this segment, Sirona said.

Commenting on this announcement, Deep Bajaj, founder & CEO of Sirona Hygiene, said, “We had multiple term sheets from VCs and other strategic investors but the combination of money and immediate value which the Good Glam Group offered was unparalleled. We have been profitable for the last 3 years and are growing steadily. We believe that the partnership with The Good Glamm group, given their edge in terms of content and offline access will help us scale faster while staying profitable.”

The company said it will soon hit the Rs 100 crore revenue mark.

“Aspirations are to see Sirona at leading stores, solving more feminine hygiene problems faced by Indian women from puberty to menopause & become the first start-up in our category to hit Rs 500 crore revenue, hopefully within 3 years!”

“Sirona has built a great business. Very few start-ups are able to grow profitably with innovative products in a taboo category with low capital. Feminine Hygiene segment, especially given the taboo around the category, is a tough one to pull off but needs far more intervention to make life simpler for Indian women.,” said Darpan Sanghvi, founder & CEO, Good Glamm Group.

The Good Glamm Group comprises a portfolio of beauty and personal care brands that are powered by a proprietary digital ecosystem of content, community and creator assets.

On exiting the business, Vikas Kuthiala, lead investor from angel around, said, “I am very confident that Sirona is on its way to becoming a full stack consumer brand company and market leader in addressing the needs of intimate hygiene for women. Since inception Deep has demonstrated that he can develop and sustain a long-term business enterprise built on strong fundamentals.”

Other lead investor from the angel round, Ishan Singh said, “Deep & team Sirona has done an amazing job in building India’s leading feminine hygiene brand and the MyGlamm platform will further allow Sirona to scale to new heights. This exit for investors is a culmination of 4 years of hard work and I am proud of having been the lead investor and board member.”