Direct-to-consumer company Millenium Babycares has successfully raised Rs 122 crore (roughly $14.5 million) in a funding round headed by Pantomath Capital-managed Bharat Value Fund.
According to a press release from Millenium Babycares, the money will be used to increase their capacity for manufacturing as well as their visibility in general trade and export markets.
XXXL to newborn sizes are available for Millenium Babycares, a pant-style diaper company founded in 2015 by Dipendra Bhimsaria and Ramprakash Beria. The company’s products can be found on its website and on well-known e-commerce sites like Amazon and Flipkart.
The business is divided into three segments: adult care, femcare, and baby care. They manufacture sanitary napkins and adult incontinence products under the Elduro and Freeme brands, respectively, and baby diapers under the Bumtum brand.
Millenium Babycares, an Indore-based company, says it can produce 4 million baby diapers, 500,000 sanitary napkins, and 100,000 adult diapers every day. The company recorded revenue of Rs 585 crore for the fiscal year 2023–24, demonstrating an impressive 53% compound annual growth rate (CAGR) from FY20 to FY24. Revenue for the fiscal year ending in March 2023 was Rs 150 crore.
