mCaffeine, a Pep Technologies owned digital-first personal care brand has raised Rs 42 crore in Series B funding round. The funds will be used to expand online and offline distribution and also increase its research and product development. The brand aims to launch 15-20 products in 2021. The funding will also help in amping up its yearly turnover from Rs 100 crore to Rs 500 crore by 2023. At present, mCaffeine has 20 skin and hair care products selling all across the country.
Amicus Capital and RPSG Ventures have been the major funding vendors in this round.