Ustraa, a brand under Happily Unmarried firm, raises Rs. 20 crore funding in its H round. Ustraa is known for its men grooming products.
Current Funding and Stakeholders detail
As per the Entracker report, Ustraa will provide 5490 series H shares of Rs 36428 each to IIFL Seed Ventures in return for Rs 20 crore investment. With current development, Ustraa is becoming one the fastest growing brand in recent time.
In mid of 2020, Happily Unmarried raised Rs 50 crore from the same investor. Info Edge and Wipro are the other known investors of the company. With 2020 funding, Happily Unmarried valued itself at Rs 220 crore, whereas the fintracker experts valued the company at Rs 180 crore.
With the current investment, IIFL emerged as the second-largest stakeholder with around 29% stake, whereas Info Edge occupies the first position with approximately 30% stake. Cofounders of Happily Unmarried have a total of 21.42% stake.
While Wipro and other investors have a total of 15.87% and 2.24% stake respectively. Company employees have control over a 1.16% stake.
When contacted, Happily Unmarried did answer the queries related to the current funding and total market cap.
About Ustraa Offerings and other Developments
Happily Unmarried is a 17-year-old man grooming product company. Under the brand name of Ustraa, it sells wide variety of grooming products through Amazon and Flipkart. It also sells the same products through its web portal.
Ustraa is the men’s grooming brand of Happily Unmarried. We create products, grooming content, and everything else that can help our Bros look and smell good. Our products adhere to the highest quality standards and are made without using Sulphate, Paraben, or harmful chemicals. And most importantly, they are not tested on animals, only on rascals!
In the Financial Year 2020, Ustraa had recorded total revenue of Rs 60 crore. The company generated this revenue through two sources, the sale of grooming products and gift & delivery services. Grooming products contributed 96%, whereas it got 4% revenue from the second income source.
During the period, its outstanding losses mounted to nearly Rs 65 crore and its total liabilities outweighed its assets by Rs 10.44 crore.
FY20 brought more losses for the company. Compare to a total loss of Rs 11.7 crore in 2019, company losses grew 50.4% to Rs 17.6 crore.
Ustraa also provides attractive subscription plans to keep a long time relationship with customers. Happily Unmarried competes with Bombay Shaving Company, The Man Company, Beardo and others.
