Herby Angel, the Ayurvedic and organic personal care brand, has successfully raised $2.5 million in its first round of funding from JCBL Group. The company has disclosed that this investment will play a crucial role in accelerating growth across distribution, technology, portfolio expansion, research, and marketing initiatives.
Launched earlier this year, the brand is now available for purchase online and in offline retail outlets across 13 states and at over 1,300 retail points of sale, as stated in a media release. The company has expressed its goal to further expand its reach to more than 2,000 retail stores by March next year.
Sherry Jairath, chief experience officer of Herby Angel said, “With the new investments, we are better positioned to drive innovation and expand the product portfolio.”
According to a statement from JCBL, this investment represents its first foray into the ayurvedic and organic health and wellness products space. The decision is motivated by the notable increase in demand for ayurvedic and organic products within this category.
According to a study by market researcher TechSci Research, the organic personal care products market in India reached a valuation of US$ 570 million in the financial year 2020-21. The market is projected to experience a compound annual growth rate of 15%, aiming to reach US$ 1,239.04 million by the financial year 2026.
The increasing demand for sustainable products and a growing emphasis on ethical consumption among younger consumers are being leveraged by marketers, leading to a surge in demand.
