Contract manufacturer Naturis Cosmetics raises Rs 100 crore led by Sharrp Ventures

Naturis Cosmetics, which manufactures products for beauty and personal care brands such as Pilgrim, Plum, Nykaa's Kay Beauty, and Innovist's Bare Anatomy, has raised Rs 100 crore in its maiden funding round led by Sharrp Ventures. Mirabilis Investment Trust, the family office of Infosys cofounder K Dinesh, Anicut Capital, and Surat-based asset management firm Niveshaay also participated in the round.

ET had reported on June 24 that Naturis was in talks to raise its first institutional funding.

According to people aware of the matter, the round values Naturis at around Rs 350-400 crore. The Mumbai-based company, which is profitable, generated an estimated Rs 250-300 crore in revenues in the last fiscal year.


In a statement, Naturis said it will use the fresh capital to expand its footprint by setting up a manufacturing facility in Vapi, an experience centre in the Delhi-NCR region, and a research and development centre in Mumbai. It also plans to strengthen its team across functions.

Besides, Naturis, which also counts pharma companies such as Glenmark among its clients, is looking to diversify into newer product categories, including men's grooming, body care, colour cosmetics, fragrances, and exports, while strengthening its over-the-counter (OTC) pharmaceutical capabilities.

The funding comes amid growing investor interest in India's booming beauty and personal care sector, extending beyond consumer-facing brands to the manufacturing ecosystem that supports them. Contract manufacturers, many of which are family-owned or bootstrapped, are increasingly attracting institutional capital.

In April, JM Financial's private equity arm invested Rs 150 crore in NG Electro Products, which manufactures gels, creams, and other personal care items for D2C startups as well as established fast-moving consumer goods (FMCG) companies.

"Our long-term vision is to build India's leading ODM (original design manufacturer) platform in the beauty and personal care space. With the strategic expertise of our investors and partners, we are well-positioned to accelerate our growth, strengthen our R&D capabilities, expand our manufacturing footprint, and help build the next generation of brands from India," Rahul Tandon, cofounder and CEO of Naturis, said in a statement.

According to market intelligence firm 1Lattice, India's online beauty and personal care market is expected to grow to $13 billion by FY30 from $6 billion in FY25, driven by rising affluence, greater awareness, and wider access.