Soothe Healthcare, India secures INR 175 Cr from US International Development Finance Corporation (DFC) and existing investors. Intellecap is the sole and exclusive advisor for the debt transaction.
In the pic CEO Nathan Scott, DFC with Soothe Healthcare Team
Mumbai, 20th October –Soothe Healthcare, India yesterday secured INR 175 Cr from US International Development Finance Corporation (DFC). CEO Nathan Scott was at the signing in ceremony with Sahil Dharia, Founder and CEO, Soothe Healthcare.
U.S. International Development Finance Corporation (DFC) as well as existing partners including A91, Symphony, Sixth Sense, and Gulf Islamic Investments participated in the round
Intellecap is the exclusive and sole debt transaction adviso. Ashim Ranu and Sanchita Deshmukh from Intellecap Investment Banking team was at the signing in ceremony.
Founded in 2012, Soothe Healthcare offers a range of products including sanitary pads, intimate washes and menstrual cups. The startup will use the funding to grow distribution channels and deepen reach across Tier-II and Tier-III markets.
DFC CEO Nathan Scott and Sahil Dharia, Founder and CEO, Soothe Healthcare, India
Soothe Healthcare, a personal hygiene company raises INR 120 crores from its existing investors and another INR 55 crores from the U.S. International Development Finance Corporation (DFC). The existing partners include A91, Symphony, Sixth Sense, and GII.
The brand will utilize the raised capital to further grow its distribution channels and deepen its reach to women across tier II and III markets. The funds will also be used to amplify marketing outreach and spread a wider social message on women’s menstrual hygiene.
This is in line with DFC’s Global Health and Prosperity Initiative and two times Women’s Initiative, through which DFC seeks to empower women and help them achieve the economic tools to prioritize their health and hygiene needs.
Founded in 2012 by Sahil Dharia, Soothe Healthcare offers a range of products targeted at feminine hygiene including its flagship product sanitary napkins, intimate washes and menstrual cups. At the outset, it sold sanitary pads under the ‘Paree’ brand and then later also ventured into the kids and adult diaper segment.
The association between DFC and Soothe Healthcare was facilitated by Intellecap, the exclusive debt transaction advisor.
Sahil Dharia, Founder and CEO, Soothe Healthcare, said, “Raising a meaningful amount from existing partners and US Govt. DFC validates our brand’s commitment to prioritise menstrual hygiene access, product, people, and communities. Our endeavour is to provide women with high quality products at a great value. Our value proposition and social impact-driven business model has helped establish Paree Sanitary Pads as a trusted personal hygiene brand across India. This fresh inflow of funds will help us reach women across wider geographies.”
Abhay Panday, General Partner, A91 Partners commented, “We continue to be believers in the business opportunity in women’s hygiene and Soothe’s relentless focus on building a high-quality Indian brand in the space.”