Hygiene and wellness brand Pee Safe on Thursday said it has raised Rs 25 crore in funding led by Shaival Desai and existing investor Alkemi Growth Capital. Through the proceeds of the pre-Series B-raise, Pee Safe aims to build depth in feminine hygiene and sexual wellness, and accelerate its personal care brand FURR, a statement said.
The company will also allocate funds for further R&D and product launches in the next one year, it said, adding that the brand is looking at raising Series B funding later this year.
Apart from raising USD 10 million in series B funding, Pee Safe is looking at expanding its retail presence from the current 10,000 stores to having a few franchise-owned brand exclusive stores (FOFO), the statement said. This will help the company enhance the customer experience across India. The company – which has also expanded overseas and are building local production of toilet seat sanitisers in Europe – has raised USD 9 million to date.
Pee Safe – which is popular for its toilet seat sanitiser spray product – had recently launched a FURR portfolio of grooming and skincare essentials. We are excited and happy about the growth prospects of Pee Safe as a brand that addresses personal and intimate hygiene holistically. The funding round will enable us to further research and development, as well as build Pee Safe as a forward-looking brand,” Pee Safe founder and CEO Vikas Bagaria said.
Pee Safe plans to launch IPO in 3-5 years, he added. Alka Goel, Founding Partner at Alkemi Growth Capital, said Pee Safe and its sub-brands ‘Domina’ and ‘FURR’ have continued to grow alongside the creative, innovative, and much-needed products for its target segment.
“The team is agile and is closely connected with its customer base that truly loves its products. Pee Safe has demonstrated boldness in challenging long-held stereotypes and to that extent is making it fun and normal to talk about topics that may previously have been taboo, she said. Pee Safe’s online business has seen a 40 per cent jump in the current quarter and the brand has achieved over 70 per cent growth annually (FY20-21).