The corporate didn’t disclose the monetary phrases of the acquisition.
Sirona, a fem-tech company that sells feminine hygiene merchandise, will foray into the feminine security section with the acquisition.
The corporate will make investments Rs 30 crore in Impower over the subsequent two years, Deep Bajaj, cofounder and CEO of Sirona informed ET in an unique interview.
“This acquisition is a pure extension of Sirona’s mission of making a bigger affect in society by offering consciousness, schooling, and alternative round all unaddressed points – security being considered one of them,” Bajaj stated.
In December, The Good Glamm Group acquired a controlling stake in Sirona in an all-cash deal value Rs 100 crore. Good Glamm has dedicated to take a position an extra Rs 100 crore ($13.5 million) within the firm, ET had reported.
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Bajaj stated the corporate is bullish on strategic acquisitions and scaling up development to hit the Rs 500 crore income mark throughout the subsequent three years.
Based by Akshay Dua and Tanisha Pant in 2018, Impower makes pepper spray, one of many bestselling manufacturers within the class on ecommerce marketplaces comparable to Amazon and Flipkart. The pepper spray market in India has seen vital adoption given how impactful and accessible it’s for self-defence in untoward conditions.
“Sirona has made nice strides within the female hygiene class. Deep and his crew have made lives easier for ladies with their revolutionary merchandise – the vast majority of that are habit-changing merchandise however have been adopted at a mass scale, we’d like related adoption for Impower and therefore the alliance,” Dua and Pant stated in a joint assertion.
In accordance with Impower, ladies’s security has been a significant concern in India. As per the Nationwide Fee for Ladies (NCW), there was a 46% rise in complaints about crimes towards ladies within the first eight months of 2021, from the corresponding interval final 12 months.
Sirona, based in 2014 by Deep and Mohit Bajaj, makes menstrual hygiene merchandise, together with natural ache reduction patches, degradable sanitary pads and menstrual cup kits. It additionally provides a stand-and-pee system for ladies referred to as PeeBuddy.
Sirona has been worthwhile for the final three years.
In April 2021, the corporate had raised $3 million from NB Ventures and IAN Fund, as a part of its Sequence A spherical.
