“Natural and organic personal care is among the faster-growing categories in personal care. However, it is increasingly getting cluttered with little or no real differentiation. We believe the caffeine-based sharp positioning of mCaffeine sets it apart, which is also reflected in its growth profile,” says Abhishek Goenka, head of RPSG Ventures. Earlier, mCaffeine had raised $0.5 million.
With a surge in disposable income, millennials are becoming more indulgent. In an evolving trend in India, youth are beginning to look at innovative personal care products created specifically for them.
mCaffeine plans to penetrate the market aggressively by giving emphasis to a customer-driven approach. “mCaffeine is a new-age skin and hair care, digital first, unisex brand for the Indian millennials. We are focused on serving the needs of active millennial lifestyle and we embody millennial ethos. We believe in the philosophy of natural first in the form of clean label. We see product development as an exercise to address the needs of the modern lifestyle,” says Tarun Sharma, co-founder.
The personal care industry is seeing a shift from quick cosmetic fixes to natural solutions that aid well-being. mCaffeine is a part of this tectonic shift, he says.
Caffeine is a natural superfood for skin and hair. It prevents hair fall, strengthens hair, fights free radicals, and has anti-inflammatory properties. “Moreover, it is a reflection of the modern day lifestyle. Check out any cafe, tea or chocolate joint. It’s caffeine everywhere,” says Sharma.
The start-up is seeing opportunity in the $6.5 billion personal care market in India, which is set to become a $20 billion market by 2025.
mCaffeine products are currently present in three major categories — face Care, hair care and body care — and the brand currently has 10 products in its portfolio. The brand has served more than half a million customers since its inception. It plans to launch 30 products, add one million customers and achieve a run rate of Rs 100 crore in 12 months.
mCaffeine claims to be an online only brand and sells products through its website and a host of e-commerce channels. The company is unit level profitable from day one. “With this fundraising, we are looking to step up our product development. We are also looking to enhance our technology for deeper insights,” the co-founder adds.