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The company has raised a total of approximately $7 million to date. Approximately $2 million of this funding will be used for exits from early stage investors, and the company expects to achieve approximately 5x profits over four years. The company’s past investors include Peak XV Partners, former Sequoia India, Southeast Asia, and others.
Founded by Swagatika Das and Gaurav Agarwal, Nat Habit currently has annual recurring revenues of INR 820 crore. The company plans to utilise the funds for growth and expansion into new verticals, retail, research and development and workforce development. The company manufactures its entire range of products in-house, spanning around 200 stock keeping units (SKUs).
Nat Habit’s products include mare (moisturizers), hair oils, face washes, ubtan, henna and lip scrubs, all made from ingredients such as grains, legumes, nuts, milk, yogurt, fresh herbs and flowers.
With its launch in the cards, Nat Habit plans to foray into offline sales through Modern Trade and General Trade. “We plan to open two of our own stores in the next financial year, both of which will be initial experiments in this direction,” Das told ET.
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Nat Habit currently sells through its own website as well as online marketplaces such as Amazon and Flipkart. Das said the company’s direct sales account for about 55% of its total sales, with the rest coming from online marketplaces. Nat Habit aims to more than quadruple its revenue in the next 24 months and take annual recurring revenue to Rs 3.5 billion.
Nat Habit said it currently serves around 1.4 million customers and ships 15,000 units per day, adding that more than 70 percent of its users reside in first and second tier cities, and the brand sees 30 percent demand from third-tier and above cities.
“For us, natural and Ayurvedic care is not just a trend; it is a lifestyle and a practice that we want consumers to adopt for a safer, longer and happier life,” Das added.
Das is an alumnus of Indian Institute of Technology Kharagpur and INSEAD and previously worked at Apple, while co-founder Agarwal is a DCE and Darden alumnus and previously worked at Capital One.
“Nat Habit has taken personal care to a new level by offering fresh products with proprietary technology and natural ingredients. We are excited about Nat Habit’s unique products, which have led to immense love and strong retention among customers,” said Pankaj Makkar, partner at Beltressman.
“This is definitely a brand that is there to win, and Fireside will continue to support such visionary causes and entrepreneurial spirit,” said Dipanjan Basu, partner at Fireside Ventures.
