Female hygiene brand Soothe Healthcare Pvt. Ltd has raised 175 crore ($21 million) in a bridge round from the U.S. government’s Development Finance Corporation (DFC) and existing investors.
The company raised ₹120 crore in equity from A91 Partners, Symphony International Holdings Ltd. Sixth Sense Ventures and Gulf Islamic Investments (GII) while U.S. DFC invested ₹55 crore in debt. Advisory firm Intellecap was the exclusive transaction advisor between US DFC and Soothe Healthcare.
Soothe Healthcare plans to use the funds to expand its distribution channels and deepen its reach to women across tier II and III markets. The capital will also be used to amplify marketing outreach and spread a wider social message on women’s menstrual hygiene.
Founded in 2016, Soothe Healthcare sells Paree sanitary pads, Super Cute’s baby diapers and Super Life adult diapers through 250,000 outlets in India and online retailers.
Most of the sales are generated from retail stores from tier 2 cities and beyond, said Sahil Dharia, chief executive and founder in an interview. He said the company plans to stay focused on selling its products through retail stores.
In FY22, Soothe Healthcare doubled its revenue to ₹200 crore. The company is likely to close this financial year with a more than 30% growth in revenue to about ₹265 crore, said Dharia.