On Thursday, 27th May, Clensta a New Delhi based startup, which focuses on personal care and homecare space, is backed by IIT Delhi, announced that it raised USD 688 K in debt fund round. This funding round was led by the N+1 Capital.
The fund raised will be used for extending up the upcoming homecare category, the company stated in a statement.
The startup recently entered into a strategic tie-up with a well-known pharma company Cipla for its new and fresh commercialised products ” Waterless Shampoo and Waterless Body wash” .
About Investors –
N+1 Capital is a revenue-based capital investment firm, it has got approval for its very first debt fund to deploy capital in India by Securities and Exchange Board of India (SEBI).
The vision behind these investments is to provide 100+ entrepreneurs to grow their business and make it profitable, also help them stay sustained in every stage.
Words from the Investors –
“N+1 is sector agnostic, and the qualifying criteria are actually steady-state, as well as growing startups and micro and small enterprises (MSEs) with minimum monthly revenue of Rs 50 lakh, and at least 30 per cent gross margin. Having said that, the fund is currently working with SaaS startups and some Direct-to-Consumer (D2C) startups,”- Rahul Chowdhury, Managing Partner, N+1 Capital.
About Clensta –
Clensta was started in 2016 by Puneet Gupta, having its headquarters in New-Delhi. It is a biotech startup which intends to improve the National Hygiene condition wishlist addressing the side of water conversion.
The startup is associated with IIT Delhi, it is working to develop innovative healthcare solutions to make hygiene accessible to anyone, anywhere, and anytime. The Clensta is driven by an aim to come up with innovative products which can be used without water, even if you are 100 ft below sea level or 1000 ft above.
Words from the CEO –
Commenting on the fundraise, Clensta International CEO and Founder, Puneet Gupta, said, the company already has a presence in over 500 hospitals and more than 25,000 retail outlets, including pharmacies, and is now looking to penetrate through direct to consumer channels as well.
“This debt fund helps us grow further and reach out to consumers at a faster pace. Also provides us with the opportunity to expand offline, as well as online, cover all important aspects of the sales channel,” he added.
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