Nat Habit raises Rs 142 crore in Series C round led by Trident Growth Partners
The direct-to-consumer brand plans to scale production fivefold and expand into new product lines after reaching Rs 330 crore in annualised revenue.
What happened
Direct-to-consumer personal care brand Nat Habit has raised Rs 142 crore in a Series C funding round led by private equity firm Trident Growth Partners.
The round included existing investors Bertelsmann India Investments, Mirabilis Investment Trust and Sharrp Ventures, alongside new backers Physis Capital, Hero Family Office, Linklight Ventures, Firstport and Dharmayug Investments.
Regulatory filings submitted to the Registrar of Companies show the company issued 22.5 lakh Series C preference shares at Rs 633.5 per share. Trident Growth Partners contributed Rs 91 crore for an 11.44 per cent stake, while Bertelsmann invested Rs 37 crore to take its holding to 17.54 per cent.
Where the money is going
Nat Habit plans to deploy the fresh capital across three main areas: expanding its product portfolio, scaling distribution across quick commerce and physical retail, and deepening its reach in tier-two and tier-three cities.
Co-founder Swagatika Das said the company plans to increase its production capacity from 1 million units to 5 million units over the next two years through a greenfield project. The brand currently operates a single manufacturing facility in Gurugram and is considering establishing a central facility or splitting production across two new regional plants.
Over the next three years, the company also intends to enter new product categories, including body washes, serums, sunscreens and hair colour. A further Rs 2.6 crore from the funding proceeds will be used to reduce the company's employee stock option pool.
Key financials and expansion goals
Founded in 2019 by Swagatika Das and Gaurav Agarwal, Nat Habit has reached an annualised gross revenue of Rs 330 crore. The company is targeting 60 to 70 per cent revenue growth in the 2026-27 financial year.
In the 2024-25 financial year, regulatory filings show the business recorded Rs 106 crore in revenue from operations, up 47.2 per cent year-on-year, while net losses grew to Rs 29 crore. The company has not yet filed its financial statements for the 2025-26 financial year.
Prior to this funding round, founders Das and Agarwal held 16 per cent equity each. Estimates based on the share allotment price place the company's post-money valuation at approximately Rs 800 crore.
Key numbers
| What | Figure | Source |
|---|---|---|
| Series C funding raised | Rs 142 crore | Company statement and regulatory filings |
| Lead investor commitment | Rs 91 crore | Trident Growth Partners regulatory filing |
| Estimated post-money valuation | Rs 800 crore | Entrackr calculation from regulatory filings |
| Current annualised gross revenue | Rs 330 crore | Company statement |
| Target production expansion | 1m to 5m units | Swagatika Das, Co-founder |
In this story
| Name | Role in the story |
|---|---|
| Swagatika Das | Co-founder of Nat Habit. |
| Trident Growth Partners | Private equity firm leading the Rs 142 crore funding round. |
| Nat Habit | Direct-to-consumer personal care brand raising Series C capital. |
