Happily Unmarried, which sells men grooming products online under the brand name of Ustraa, has raised Rs 20 crore in its Series H round, regulatory filings show.
The direct-to-consumer brand has passed a special resolution to allot 5,490 Series H preference shares at an issue price of Rs 36,428 each to raise Rs 20 crore from the IIFL Seed Ventures Fund.
In July 2020, Happily Unmarried had raised Rs 50 crore from IIFL Seed Ventures Fund II. Besides IIFL, the company has raised funds from Info Edge and Wipro Consumer Care.
The 17-year-old company offers a range of grooming products for men under the brand name Ustraa and it sells its products through e-commerce marketplaces such as Amazon and Flipkart, third-party retail outlets, and its web portal.
Among D2C brands focusing on men’s grooming, Ustraa competes with the likes of Bombay Shaving Company, The Man Company, Beardo, and a few others. In June 2020, Beardo was acquired by Marico in a deal worth Rs 350 crore.