Women's hygiene brand Nua on Monday said it has raised USD 7.1 million (about Rs 52.6 crore) funding, led by existing investor Lightbox Ventures.
The pre-series B round also saw participation from Bollywood actor Deepika Padukone, former president (Global Foods, Home & Personal Care) at Unilever, Vindi Singh Banga, and Kamini Banga of the Banga family office, along with Kae Capital.
Padukone will also work closely with Nua to ideate and create new wellness solutions, a statement said.
Nua had previously raised USD 4 million in 2019 from Lightbox Ventures and Kae Capital, it added.
With Nua, women can get recurring doorstep deliveries of sanitary pads and other healthcare products at their chosen frequency. The company has an online community and customers of over 4 lakh women.
"Our approach from the beginning has been to focus on building holistic solutions comprising safe products, tailored content, and a community that women can lean on for all things wellness. This approach has really paid dividends. Despite all the challenges of 2020, we were able to accelerate our growth completely on the back of a highly loyal customer base," Nua founder and CEO Ravi Ramachandran said.
He added that the funding will help the company further invest in its community, new products, and technology as it continues to scale up the brand.
Prashant Mehta, Partner at Lightbox, said Nua has pioneered the subscription model for menstrual products in India that lends itself perfectly to this category.
"This was possible due to the strong community they've built on trust, giving consumers a deeper connect with the brand. We are confident of the team's approach and capabilities to change this category for the better," Mehta added.
