NEW DELHI Homecare products start-up Happi Planet, founded by two former P&G executives, has raised a funding round of Rs 8.47 crore from Fireside Ventures. The start-up, which offers plant-based and toxin-free home care products, had raised Rs 1.25 crore from 100X.VC in March last year.
Nimeet Dhokai, Co-Founder, Happi Planet told the businessline that the funds will ramp up the brand’s offline presence and awareness initiatives. He added that the brand aims to garner 10x topline growth in the next 12 months.
“With the rise of conscious consumption, consumers have increasingly been seeking” better-for-you products” when it comes to food, beauty and personal care. Over the past few years, they have evolved further and have also begun seeking toxin-free options for laundry and dishwashing among others. Our products, which are made from 100 per cent plant-based actives, aim to cater to the evolving consumer needs in the homecare space,” he explained.
Launched in July 2022, Happi Planet offers a range of plant-based products, which include laundry detergent liquid, dishwashing liquid, handwash, floor cleaner and toilet cleaner. These products are currently sold on online platforms as well as in modern trade stores like Reliance Signature stores
“We are not going after niche categories but sizeable categories that have high household penetration and offer potential to scale. Dishwashing liquids and laundry liquids are high-involvement categories and are driving adoption of the brand. We aim to garner double-digit market share in the homecare liquids space over the next five years,” Dhokai said.
With a focus on omni-channel strategy, the brand aims to ramp up its presence to over 250 outlets by the end of this year. “Our products are competitively priced to the incumbent brands as we want to ensure our products are accessible for consumers,” Dhokai explained.
The brand discloses all ingredients on the packaging label and is offered in paper carton packaging in line with its focus on transparency and sustainability.