Millenium Babycares, a direct-to-consumer brand, has successfully raised Rs 122 crore (approximately $14.5 million) in a funding round led by Bharat Value Fund, managed by Pantomath Capital.
The funding will be used to expand their manufacturing capabilities and enhance their presence in general trade and export markets, Millenium Babycares said in a press release.
Founded in 2015 by Dipendra Bhimsaria and Ramprakash Beria, Millenium Babycares specializes in pant-style diapers and offers products in sizes ranging from newborn to XXXL. The company’s products are available on its website as well as through major online platforms like Amazon and Flipkart.
The company operates across three segments: baby care, femcare, and adult care. Under the “Bumtum” brand, they produce baby diapers, while adult incontinence products and sanitary napkins are marketed under the “Elduro” and “Freeme” brands, respectively.
Based in Indore, Millenium Babycares claims a production capacity of 4 million baby diapers, 500,000 sanitary napkins, and 100,000 adult diapers daily. The firm reported a revenue of Rs 585 crore for the fiscal year 2023-24, achieving a remarkable CAGR of 53% from FY20 to FY24, and generating Rs 150 crore in revenue for the fiscal year ending March 2023.
By Entrackr
Source: Entrackr