Belgian investment fund Sofina is at an advanced stage of negotiations to lead a new funding round in personal care brand Mamaearth.
The fresh infusion of capital will likely value the direct-to-consumer (D2C) brand at about $700 million from around $200 million in 2020, indicating continued investor interest in D2C brands overall.
The financing round is expected to be in the range of $60-$80 million, with a primary component of around $50 million.
