New Delhi, July 17 -- Beauty and wellness brand Nat Habit, which makes Ayurveda-based natural beauty and personal care products, is in advanced talks to onboard new investors to its cap table, three people aware of the development told VCCircle.
New Delhi-based Nat Habit, operated by Naturohabit Pvt Ltd and founded in 2019 by Swagatika Das and Gaurav Agarwal, is in late-stage discussions with at least two investors to raise around $10-15 million (Rs 95-145 crore), according to two of the three people cited above.
One of the persons said growth-stage private equity firm Trident Growth Partners was among the contenders for the deal. The second person said the company was also talking to another PE firm. However, VCCircle could not ascertain the name of the second investment firm.
The third person said the family office of a large Indian automotive group had also evinced interest in the company but eventually backed out. This person also said that existing investor Bertelsmann India Investments is also in talks to re-invest in the company. Bertelsmann led the company's Rs 85-crore Series B round in late 2023.
Nat Habit's other investors include Peak XV Partners, Fireside Ventures, Amazon's India-focused Smbhav fund, Marico chairman Harsh Mariwala's family office Sharrp Ventures, and Snapdeal founders Kunal Bahl and Rohit Bansal's Titan Capital.
The investment banking arm of EY India is helping the company to complete the new fundraising exercise.
Trident Growth Partners refused to comment for this article. EY and Nat Habit didn't reply to VCCircle's queries.
VCCircle previously reported in December last year that the company had begun early discussions with investors to raise funding to expand its manufacturing facility and accelerate growth.
Nat Habit manufactures its products at a single facility in Gurugram, producing about 200 stock-keeping units daily with systems designed for quick turnaround, given the short lifecycle of raw materials, Das told VCCircle in December.
The company says its Ayurveda-based products include hair masks, shampoos, and conditioners, made using preservative-free natural ingredients.
As of January 2025, data platform Traxcn pegged the company's valuation at around Rs 343 crore.
Nat Habit's revenue from operations grew to nearly Rs 106 crore in FY25, from Rs 72.1 crore in FY24, but net loss widened to almost Rs 29 crore from a loss of Rs 17.8 crore the year before, according to VCCEdge.
The company was targeting revenue of about Rs 220 crore in FY26 and Rs 450-500 crore in FY27, Das said previously.
Published by HT Digital Content Services with permission from VC Circle.