Sofina SA, located in Belgium, would invest about $27 million in Mamaearth, a personal care business.
According to documents with the businesses registry, Mamaearth has already acquired Rs 147 crore, with the remaining cash coming in installments.
Varun and Ghazal Alagh, a husband-and-wife team, started the company in 2016. Body lotions, rash creams, shampoos, body washes, massage oils, and infant care items are among the company’s offerings.
Mamaearth claims to be developing a new line of direct-to-consumer brands that will target core groups utilizing an internet-first strategy.
According to reports, Mamaearth is also attempting to acquire many smaller businesses in the personal care and wellness space in order to become a “House of Brands.”
Sequoia Capital India led the company’s Series B investment in January of last year.