Peebuddy Raises Bridge Investment From Indian Angel Network
In its last funding round in March 2017, Sirona had raised INR 2.96 crore from Indian Angel Network. Sirona plans to leverage the acquired funds to sustain the ongoing marketing and distribution expansion initiatives. By making its innovative category-defining products more accessible across various channels, Sirona has been offering solutions to ‘unaddressed’ Intimate & Menstrual hygiene issues faced by women.
An online-first company, Sirona’s products are available across its own e-commerce website and leading online marketplaces like Amazon, Flipkart & Nykaa. With a sizeable offline presence across Delhi-NCR, retailers such as 24x7 convenience stores, Le Marche, Modern Bazaar, Krishna Marche 37, Guardian etc., the company is now planning its foray into multiple cities across India.
Commenting on the investment, Deep Bajaj, Founder – PeeBuddy: Sirona, said “Ever since we invented India’s First Female Urination Device, PeeBuddy, followed by India’s First Herbal Period Pain Relief Patches, Sirona, in 2015, the acceptance for unique hygiene products among Indian women has increased manifold. This customer validation further encouraged us to launch more products like Sirona Menstrual Cups, Tampons etc and all have been very well accepted by customers. We are delighted that our investors share our passion and have continued to demonstrate their faith through their follow-on investments. The latest capital infusion will help us further bolster our position in this space and allow our products to reach a wider population across India.”
Speaking on the funding, Lead IAN investor Vikas Kuthiala said, “We are fully aligned to Deep’s vision to build a robust, full stack consumer products company in the highly lucrative feminine hygiene space. This is a very exciting business opportunity where Sirona has achieved early leadership to deliver business success, and we are sure that the brand will continue to scale new heights over the years to come.’’
Lead investor Ishan Singh added, “At IAN, we are constantly on the lookout for high-potential business ventures. We already have many investee start-ups catering to critical issues in the relatively unaddressed spaces of feminine hygiene, sanitation, etc. Investing in Sirona takes that value proposition to another level. Deep and his team have done an excellent job of building a global brand, catering to the needs of today’s women. Their journey has inspired many "me too" products – which just help to grow the larger ecosystem. At the end of the day, this is an execution game and Sirona is bang on target.”
This bridge funding comes on the back of the market traction that Sirona has garnered post the introduction of several first-of-their-kind products in India. These include female urination devices, herbal pain relief patches, oxo-degradable disposable bags, anti-chafing creams, and biodegradable pregnancy kits.
