Latest news with #VentureCatalysts
Entrepreneur
22-05-2025
- Business
- Entrepreneur
BlackCarrot Raises Funding to Scale Health-Focused Dinnerware
The fresh funding was raised from Venture Catalysts, with support from We Founder Circle, EvolveX, GX Ventures, Suraj Nalin, and celebrities Neha Dhupia and Agnello Dias. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. BlackCarrot, a health-conscious dinnerware brand, has raised pre-seed funding from Venture Catalysts, an integrated incubator and accelerator. The round also saw participation from We Founder Circle, EvolveX Accelerator, GX Ventures, Suraj Nalin (Co-founder, PlaySimple Games), and celebrity investors Neha Dhupia and Agnello Dias. The funds will be deployed to accelerate BlackCarrot's expansion across direct-to-consumer (D2C) platforms, marketplaces, offline retail, and quick commerce. The capital will also fuel product innovation and support scaling operations to new markets nationwide. Founded in 2023 by Yadupati Gupta, a former investment banker at JP Morgan and Avendus Capital, and Vishal Gupta, previously Head of Marketing and Sales at Wipro Consumer Care and VIP Luggage Group, BlackCarrot aims to redefine everyday dining by prioritising consumer health and modern aesthetics. The Mumbai-based brand offers toxin-free alternatives, including bone china (animal bone ash)-free ceramics, lead-free glassware, and 304 food-grade stainless steel cutlery. BlackCarrot products are available on leading platforms such as Amazon, Flipkart, Myntra, Tata Cliq Luxury, Nykaa Fashion, and retail chains like Nature's Basket and Food Square. They have also partnered with Zepto to offer fast delivery via quick commerce. "BlackCarrot represents a new wave of consumer brands in India that combine health consciousness, design innovation, and scalable business models," said Apoorva Ranjan Sharma, Co-founder and Managing Director at Venture Catalysts++. "Their commitment to eliminating harmful materials from dining essentials positions them perfectly for the wellness-driven future of Indian households." Commenting on the funding, the Co-founders said, "We're excited to partner with visionary investors who believe in our mission to make every meal safer and more enjoyable. This backing will accelerate our journey to becoming India's go-to dinnerware brand for mindful living." Recognised by the Government of India as a promising startup, BlackCarrot is poised to lead a new era of safe, stylish, and sustainable dining.
Time of India
29-04-2025
- Business
- Time of India
M3M backs Kult with $20 mn to expand beauty tech and brand portfolio
Beauty tech and discovery platform Kult has raised $20 million in a Series A funding round led Dr. Payal Kanodia and Aishwarya Bansal from the M3M family office. The round also saw participation by Venture Catalysts. The beauty app , which has a presence on both iOS and Android, will be using the funds to expand the product categories along with building a team of over 200 top-tier talent across multiple functions, such as sourcing, engineering, product, and user experience. "Dr. Payal Kanodia and Ms. Aishwarya Bansal, who have acquired 55 per cent stake in the brand, will be joining Ruchika Pallavi and me as board members. Out of the $20 million that we have raised, we will be using $8 million during phase one, i.e., the initial 12 months, and take the brand to the valuation of Rs 5,000 crore," Karishma Singh said. "The investment comes at a time when India's beauty and personal care (BPC) market is projected to grow at a CAGR of 10 per cent, reaching $30 billion by 2027. Within this, the online BPC segment is expected to account for $10 billion, representing approximately 33 per cent of the total market," she further added. Currently, the brand has a presence in categories like makeup, skin care, hair care, bath and body, and fragrance. "In the next 3-4 months, we will be foraying into 16 new categories. At present, we are working with 260 brands and plan to take this number to 800 by the end of this fiscal year," Singh asserted. "Out of these 800 brands, around 200 brands will be international brands," she further added. Currently, the beauty app has 20 exclusive brands listed on it, and 16 more are in the pipeline. 'Kult is uniquely positioned at the intersection of beauty and technology. What drew me in was the clarity of purpose - to create a platform that doesn't just sell products, but helps consumers make informed, confident choices,' said Bansal and Kanodia. "We plan to acquire the majority of the beauty market in the e-commerce segment. Currently, Kult is offering products only for women, and going ahead, we also plan to launch products for men," they further added. At present, the brand is processing 1,000 orders per month with an AOV of Rs 2,000 and plans to take it to 10,000 orders per month with an AOV towards the north of Rs 2,000 in the next 12 months. "In terms of GMV, we will be closing this fiscal at an ARR of Rs 700 crore," Singh said. The brand, which delivers to 5,000 pin codes in India, is eyeing EBITDA profitability next year when it reaches 12,000 to 13,000 orders per day When asked about foraying into the quick commerce space, Singh said, "Beauty as a category is very well placed in terms of unit economics for quick commerce. So, of course, we would be working on it in the future." Kult, a technology-led beauty platform that leverages AI to deliver personalized skincare recommendations and a seamless, inclusive shopping experience, was started by Karishma Singh and Ruchika Pallavi in 2022.
