Gurugram: Pee Safe, a leading hygiene and wellness brand owned by Redcliffe Hygiene Private Limited, has partially closed its Series B round. The company has received $3 million out of their total round size of $6 million (approximately INR 50 crore). The funding was led by Natco Pharma Limited, a leading pharmaceutical company, and Rainmatter Health, supported by Nithin Kamath and Nikhil Kamath, founders of Zerodha. Alkemi Growth Capital, an existing investor, also participated in the round.
Originally launched in 2013 with just one product, a toilet seat sanitizer by Vikas Bagaria and Srijana Bagaria (husband-wife duo) out of a personal incident, Pee Safe has evolved into a comprehensive personal hygiene and fast-moving consumer goods (FMCG) brand. In the past six years, the company has diversified its product range to encompass various personal hygiene categories, addressing the needs of girls from puberty to menopause. This expansion includes the provision of intimate hygiene products such as reusable pads, tampons, menstrual cups, and more. Pee Safe has gained recognition as one of the frontrunners in the field of intimate wellness.
Vikas Bagaria, the Founder and CEO of Pee Safe, expressed enthusiasm regarding the recent investment, stating, “We are thrilled to secure strategic funding from esteemed pharmaceutical and wellness players like Natco Pharma and Rainmatter. This funding will accelerate our expansion efforts and establish us as the leading brand in the rapidly growing intimate wellness sector, which boasts a remarkable CAGR of 16%. Over the past five years, Pee Safe has achieved a remarkable growth rate of 100% CAGR, surpassing market expectations.”
Earlier this year, the company elevated Rithish Kumar, one of the early founding members, as the Co-founder. Commenting on the transaction, he added, “The newly acquired funds will be utilized to expand our retail presence in India, expand overseas with an omni-channel approach and allocate additional resources to marketing and awareness initiatives. Currently, we are available in over 15,000 physical retail stores across 70+ cities in India and maintain a strong online presence on major e-commerce platforms in addition to our own online platforms. We also export to 20 countries in 5 continents.”
Pee Safe was established with the primary goal of addressing a significant concern for women: the risk of Urinary Tract Infections resulting from unsanitary toilet seats and the lack of access to hygienic public restrooms. Through extensive research and development, the company successfully introduced its inaugural product, a toilet seat sanitizer spray. Since then, Pee Safe has expanded its product line to include over 25 offerings, centering on hygiene, menstrual care, and grooming. Today, Pee Safe endeavors to alleviate various challenges related to hygiene, wellness, and intimate care by providing sustainable solutions, affordable pricing, and innovative products.
The company has served over 6 million customers (with over 700K registered customers on their website) and impacted the lives of over 200K menstruators from underprivileged backgrounds through awareness drives and donated over a million menstrual care products. In January 2020, Pee Safe was awarded Amazon Best Brand of the Year 2020 in the presence of Jeff Bezos for their remarkable achievements on Amazon India.
Investor Quotes:
Dilip Kumar, Head of Investments, Rainmatter Health (backed by Zerodha) The vast majority of Indian women don’t have access to safe menstrual and personal hygiene products. This is due to a lack of awareness and access, which causes preventable health issues like urinary tract infections (UTI) among millions of Indian women. Making these products widely available is the need of the hour, and we are thrilled that Pee Safe is tackling these challenges. Helping Indians live healthier lives is a cause that we identify closely with at Rainmatter, and we are happy to be a part of this journey.
Alka Goel, Founding Partner, Alkemi Growth Capital: “Pee Safe has built a true brand and category leader in the hygiene space. The products and brands have a deep resonance with the customers and the fundamental health of the company – the quality of revenues/margin structure and customer love. We are excited about what Pee Safe is building and have been backing them in the last three consecutive rounds”.