Personal care startup Clensta raises Rs 75 crore in funding from Parineeti Chopra, others

The executive added that the Export-Import Bank of India (EXIM Bank), Mumbai Angels, Keiretsu, LetsVenture and O2 VC Fund were among the investors who took part in the funding round. The funding includes a mix of debt and equity.

“Funds will be used for product innovation and development, leadership team development, and performance-driven marketing,” said Puneet Gupta, founder and CEO, Clensta.

According to Gupta, the company’s net revenue in FY23 was Rs 35 crore, while its gross merchandise value (GMV) was Rs 100 crore. GMV is a metric that measures the total sales of a company over a specific period.

The funding round also saw participation from actor Parineeti Chopra, who has joined the company as an investor, partner and brand ambassador. Clensta has raised Rs 105 crore since its launch in 2016 with support from the IAN & IAN Fund, IPV, VCats, Hem Securities, IIT Delhi and US-AID.

Without divulging any specifics, Chopra told ET that she has made a decent investment in Clensta. This is Chopra’s first-ever investment in the startup economy.

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“I have been exploring the startup ecosystem for the right fit. Some of the products launched by Clensta blew my mind. I actually bought these products, tested them and then met Clensta’s founder,” Chopra added.The actor added that she wants to actively participate in growing Clensta. “At this point, I am committed to Clensta, and I don’t even care about my investments. I just care about where this company has to go and what it has to become,” she added.

With this fundraiser, Clensta hopes to promote the brand across the country. “Before getting into marketing, we wanted to get the product strategy right,” Gupta continued.

Initially, Clensta sold its goods through retail chains before establishing its own ecommerce platform and utilising online marketplaces. “60% of our sales come from retail, 30% from digital, and 10% are from institutional clients,” Gupta added.

It plans to expand its footprint to over 50 cities.