Source: Profit Magazine
Pakistan’s natural and organic skin and hair care brand, Conatural, has raised $825,000 in a Pre-Series A round from experienced institutional and angel investors, the company announced in a statement.
The round included participation from local venture capital firm Karavan and angel investors from the Middle East and China.
Profit verified the said amount with one of the investors, Karavan, that confirmed the size of the round, further disclosing that the funds committed by their firm had been transferred to the startup.
In a statement, Conatural claimed that this is one of largest Pre-Series A investment raised by a female-founded startup, which is also the one of its kind that is offering branded beauty products.
The company plans to use the funds to expand its online and offline retail model.
Cofounded by Myra Qureshi Jahangir and Rema Taseer, Conatural is a women led organisation and a pioneer in branding, manufacturing and retailing natural and organic beauty products tailored to the South Asian skin type. As a women led organisation, it aims to inspire and empower women and provide opportunities for women in the workplace with almost 50 per cent of staff being female.
Through the brand, the cofounders had envisioned to inspire, empower, educate and provide beneficial beauty solutions that were free of toxic chemicals and to create beauty products that were both safe and effective.
With natural and organic formulas along with no animal testing and commitment to recycling, the brand is committed to its 100 per cent all-natural ethos, the statement said. The company continues to focus on dermatological results and credentials along with sourcing certified and high-quality ingredients.
Myra and Rema believe that the amount raised in the Pre-Series A round is significant, which will be used to accelerate growth of the company including introducing new product lines and channels online and driving more sales into export markets. Conatural sells online, in its own physical stores at Emporium Mall and Packages Mall in Lahore, through high-end retailers throughout Pakistan, besides serving export markets.
“We will continue to make Conatural the best product experience in the field of natural and organic and emerging as the pioneer and market leader. We are proud to partner with strategic investors who share our vision and look forward to building a clear brand based on company’s ethos,” said Rema Taseer.