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mCaffeine's parent aims to raise $50-70 mn
Mint Mumbai
|January 17, 2024
The fundraise may see a few early investors exit the personal-care startup
Pep Technologies Pvt. Ltd, which owns mCaffeine and Hyphen brands of personal-care products, is looking to enlist investment banks to arrange its next fundraise, which is likely to see a few early-stage investors exit the Mumbai-based company.
Pep Technologies aims to raise anywhere between $50 million and $70 million over the next 12 months, and will use the funds to power overseas expansion and grow its newly-launched clean beauty brand Hyphen, according to several people familiar with the development.
Homegrown financial services firm Avendus Capital is in the fray to lead the mandate, along with another large global bank, the people cited above told Mint, requesting anonymity.
This story is from the January 17, 2024 edition of Mint Mumbai.
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