Mamaearth, an Indian beauty and babycare company, plans to go public next year and is aiming for a $3 billion value, according to individuals who spoke to Reuters.
The business, which had a January valuation of US $1.2 billion, also intends to raise US $300 million through the IPO and may file the preliminary paperwork for the move by the end of this year, according to the article.
Mamaearth is a social enterprise based in India, Nepal, Bangladesh, and Sri Lanka, founded in 2016 by Varun Alagh and Ghazal Alagh. The business provides a selection of its own “toxin-free” goods for newborns as well as for the body, face, and hair.
It received $52 million in funding from Sequoia, Sofina Ventures SA, and Evolvence in January.
