ETtech Exclusive: Sofina-led funding may value Mamaearth at $700 million

Belgian investment fund Sofina is at an advanced stage of negotiations to lead a new funding round in personal care brand Mamaearth, according to two people in the know of the matter.

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. D2C brands have gained amid the Covid-19 pandemic as shoppers increasingly purchase online.