Mother Sparsh intends to raise around Rs 100 billion in Series B funding, while ITC Ltd is already investing Rs 13.5 million.
Mother Sparsh plans to significantly expand its portfolio in baby skincare and mother-centric sectors. The funding announcement follows the brand’s entry into the diaper segment, an important segment of the baby care market.
The ITC said in a regulatory report on Tuesday night that “Mother Spacy’s stake will increase from the current 16% to 22% after the transaction. The company has entered into a contract to purchase an additional 1,000 shares of mandatory convertible preferred stock from Mother Spacy for Rs 10 each. Acquiring this stock will increase Mother Spassy’s stake to 22%.”
The company’s Series B funding round aims to expand research and development and drive innovation in critical baby and maternity sectors, along with diversifying its sustainable product portfolio.
“Our recurrent funding aims to strengthen this mission through R&D in the space and offering one-of-its-kind solutions for the needs of mothers and their little ones,” said Mother Sparsh cofounder and CEO Himanshu Gandhi.
