D2C start-up Mamaearth becomes the first unicorn of 2022 with $52 mn round

Along with launching new brands, Mamaearth's parent company Honasa Consumer will continue expanding distribution for existing brands

D2C start-up Mamaearth has raised $52 million in a funding round led by Sequoia at a valuation of $1.2 billion, becoming the first unicorn of 2022. Last year, India gave birth to 43 unicorns in the technology start-up sector.

The round witnessed participation by Sofina Ventures SA, the Belgium-based investment company, and Evolvence, a UAE based India focused fund. The round also gave employees an opportunity to monetise their vested ESOPs.

The company plans to deploy the funds towards expanding its portfolio of personal care D2C brands venturing into new categories. With the recent launch of Aqualogica, a hydration-based skin