New Delhi, July 1 -- Ananta Capital, the investment firm backed by the Taparia family, has acquired a majority stake in a personal care firm, VCCircle has learnt.

The acquisition, structured as a combination of primary and secondary equity infusion, was made within 14 months of the target's launch, persons close to the development said.

Ananta Capital has bought the controlling stake in Phitku for Rs 100 crore ($10.5 million) and provided a partial exit for brand's founders Sumit Marda, Neha Marda and Rahul Dokania. The founders will continue to run the direct-to-consumer brand post the acquisition.

According to a person close to the development, the science-led alum-based deodorant brand was valued at Rs 200 crore.

The company is now targeting a 4-5x growth of revenues in the next 2 years to touch an annual recurring revenue of Rs 300 crore.

"Going forward, we see an opportunity to build Phitku into a broader clean personal care platform by leveraging our consumer ecosystem, distribution network, product development capabilities and international presence," said Sanjeev Taparia of the Taparia family.

Phitku's Marda said the firm has onboarded over 6 lakh customers, which "reaffirms" demand for clean, effective, and ingredient-conscious hygiene solutions.

"Ananta brings the strategic expertise, operational experience and long-term vision to help us build Phitku into a true personal hygiene platform, one that scales [up] responsibly, accelerates innovation, and strengthens our distribution across both Indian and international markets. Together, we aim to build Phitku into India's leading science-led personal hygiene brand," Marda added.

Ashutosh Taparia, founder and managing partner of Ananta Capital, said, "Phitku has modernised a trusted ingredient like alum and built a proposition that resonates with today's consumers. We believe the brand is well positioned to lead this emerging category."

The companies that Ananta Capital has invested in include SleepyCat, perfume brand BellaVita Organics, nutraceutical firm Better Alt, mattress firm Springwel, BPC firm Thrive, hospitality firm Alivaa, health and wellness firm GNC, Guardian Pharmacy, beverage firm Bevzilla, snack firm Open Secret, electronic manufacturing firm PG Electroplast Limited, shipment solutions firm Pickkr, appliance firm Stovenkraft, show brand Bacca Bucci, and jewellery brand Rubans.

Published by HT Digital Content Services with permission from VC Circle.