Aegte plans to use the funds to expand its product range, spend on its marketing activities to increase the customer base, increase the operational capabilities as they scale up the sales
Aegte, a Skin, Hair and Makeup brand backed by husband-wife duo, Dhiren Sharma and Rupali Sharma, aims to raise $7 million in Series A funding to expand its business. The company currently aims to expand its portfolio to cater to Tier II and Tier III Cities.
Aegte plans to use the funds to expand its product range, spend on its marketing activities to increase the customer base, increase the operational capabilities as they scale up the sales. An online first brand also plans to target offline & modern trade shops.
The company targets to expand its market in south & east India and will also be hiring talent to scale up the organization growth. For product launches, Aegte will launch effective and unique products to cater to all skin and hair problems.
“I believe an Investor invests in an idea, not in the Brand. We believe we are the trend setters, when we started in 2018 with our first products Aegte Onion Hair Oil, we set the trend. We believe in innovating with every launch and our major goal is offering USP (Unique Selling Proposition) and high-quality product to win customer attention and trust.” Said Rupali Sharma; Founder, Aegte.
Started in 2018, the company has more than 30 products in the catalogue and has entered into Makeup Industry to gain new audience base. The company is targeting 300% growth this fiscal year.
“I often say – Only those who will risk going too far will unlock the possibilities of impossible. We are doing very well; digitally accumulating an average sale of 1 – 1.5CR monthly. We want to increase the sale 3X by the end of this fiscal year by aggressively planning marketing activities targeting Gen Z customers.” said Dhiren Sharma; Co-Founder, Aegte.
Source: Business World
