MCaffeine raises $0.5mn towards R&D, product portfolio expansion
New Delhi [India]: MCaffeine, a caffeinated personal care brand has raised a sum of USD 0.5 million in pre-series A funding, and plans to utilise the same towards product research and development (R&D), inventory buildup, and expand its product portfolio and go omni-channel.
MCaffeine, a personal care brand that was launched in 2015, offers range of personal care products are caffeine-infused.
“We see a potential market in the young millennial’s, which we believe is underserved by the incumbent brands and products. Millennial’s are more expressive, experiential, socially and environmentally sensitive. They believe in expressing their personality with the lifestyle choices they make and look up to brands as an extension of their identity. Hence, we are looking to build a brand which reflects the millennial lifestyle and aspirations,” said MCaffeine co-founder Vikas Lachhwani.
The medicinal properties of caffeine on skin and hair have been well researched in the fields of dermatology, trichology and cosmetology. Built on a careful selection of expertly curated ingredients, all the MCaffeine products come with the cruelty-free claim and are not animal tested.
Currently, MCaffeine does an accounting rate of return (ARR) business of Rs. 5 crore. (ANI)