GCA Advises Ustraa on Its Series C Investment from IIFL
Founded in 2015, Ustraa is a pioneer in the Indian male grooming market. It has a strong product portfolio across beard care and trimmers, male fragrances, hair care, and soaps and washes. All products have natural ingredients and are paraben-free with proprietary formulations developed by an in-house R&D team. The brand has a strong connection with millennials – 90% of customers are in the 18-34 year age bracket – and has over 4 million highly satisfied customers in 1,200+ cities across India. The brand is rated one of India’s best brands on social media and is backed by a strong in-house content creation team.
IIFL Asset Management (‘IIFL AMC’) is part of IIFL Wealth Management (“IIFL Wealth”), a leading wealth management company in India with $21B+ AUM. Listed on NSE India with a market capitalization of $1.2B, IIFL Wealth is backed by marquee investors including General Atlantic, Fairfax (Prem Watsa) and Steadview. Since the launch of its first private equity fund in 2016, IIFL AMC has emerged as a strong private equity platform with an impressive track record of marquee and successful investments in companies across the financial services, consumer and healthcare spaces.
Rajat Tuli and Rahul Anand, Founders of Ustraa, said: “Ustraa has been a thrilling journey so far and is amongst the leading and best-known brands in the Indian male grooming space. With strong growth expected to continue for male grooming, we will look to consolidate our leadership position. We are excited to partner with IIFL AMC in this journey going forward. Their inputs on the business, and also on the larger personal care space, would be invaluable.”