Clensta looks to double GMV to Rs 100 cr in FY23, raises Rs 3 cr in debt

Clensta founder Puneet Gupta told PTI that the company has received interest from international markets after getting approval from the USFDA for some of its products in October 2021.The company has raised Rs 3 crore in debt from Caspian Impact Investments and it will use these funds to establish the direct-to-consumer D2C business.

Personal and home care products start-up Clensta aims to double its gross merchandise value (GMV) to Rs 100 crore in the current fiscal as it looks to expand into overseas markets, according to a company official. Clensta founder Puneet Gupta told PTI that the company has received interest from international markets after getting approval from the USFDA for some of its products in October 2021.

The company has raised Rs 3 crore in debt from Caspian Impact Investments and it will use these funds to establish the direct-to-consumer (D2C) business. It looks to reach 5 crore households in five years and clock a revenue of Rs 1,000 crore, Gupta said on Wednesday. Clensta markets a waterless home care and personal care products, which can be used without water, in India. The company sells its products through pharma company Cipla and is attempting to establish the D2C sales network.

The company registered a GMV of Rs 58 crore in FY2022. Gross merchandise value (GMV) is the total value of merchandise sold during a period.

''In this financial year, we should be around Rs 100 crore GMV,'' Gupta said. ''Our aim is to touch 5 crore households with our solutions in five years, thereby reaching a revenue of Rs 1,000 crores. ''We are extremely happy to have Caspian on board as our partners in this journey. We are confident that we will be able to use these funds to expand our D2C business while continuing our work towards creating social and environmental impact,'' Gupta said. Clensta had raised Rs 20 crore from Hem Angels, Venture Catalysts and Inflection Point Ventures in the Series A funding round last year.