Gurugram-based personal care brand Clensta strategically joins forces with JM Financial. TradeCred supports the brand and JM Financial will act as its investment banker. This move propels the company to spearhead expansion and fundraising efforts.
In a noteworthy move, Clensta has chosen Mumbai-based JM Financial to navigate its financial ventures. JM Financial is known for guiding modern enterprises through successful public listings. Some of their successful ventures include names like Honasa Consumer, Ideaforge, and Nykaa led by Falguni Nayar.
SECURING FINANCES
The brand recently secured Rs 75 crore in pre-Series B funding. TradeCred led the investment alongside the UAE Royal Family and Actor Parineeti Chopra. TradeCred is a supporter of various startups such as Mensa Brands and Furlenco. It continues to strengthen Clensta’s financial backing.
LEADERSHIP
Renowned actor Parineeti Chopra is a pivotal investor in the brand. She joined Clensta recently with Ashish Mishra, a former executive at Mamaearth and VLCC. Me Mishra and Parineeti Chopra are now serving as the Chief Business Officers for Clensta.
Ashish Mishra, with his extensive experience, now spearheads business operations at Clensta. Established in 2016 by Puneet Gupta, Clensta initiated its journey with a revolutionary waterless bathing solution. The brand has raised a total of Rs 105 crore; with contributions from IAN and IAN Fund, IPV, VCats, Hem Securities, IIT Delhi, and US-AID.
BRAND OFFERINGS
The product lineup includes sustainable and affordable offerings; in wellness, hair care, skincare, eye care, lip care, fragrance, and body care. The team at IIT-Delhi meticulously researches and develops all products. The brand boasts ownership of five technologies and several patents.
FUTURE GROWTH
Puneet Gupta, Founder of Clensta, shared his insights into the strategic decisions propelling the brand’s growth. He said that the collaboration with JM Financial aligns with the recent association with Parineeti Chopra and the appointment of Ashish Mishra. Gupta envisions expanding the brand’s omnichannel distribution, encompassing retail, online, international, and alternate markets. Additionally, the brand aims to secure substantial deals in institutional and export segments.
The brand sets ambitious goals to enhance its omnichannel presence. They also aim to expand into international markets organically. The company, poised for a 150% growth in the next fiscal year, reported an impressive 100% growth in FY23. Puneet Gupta expressed confidence in the partnership with JM Financial, emphasizing the strategic move to focus on business development under the leadership of Ashish Mishra.
Image courtesy: https://yourstory.com/2023/12/clensta-personal-care-tradecred-jm-financial-investment-banker
Courtesy Link: https://yourstory.com/2023/12/clensta-personal-care-tradecred-jm-financial-investment-banker