mCaffeine, a digital-first personal care brand of Mumbai-based PEP Technologies Pvt Ltd, raises Rs.42 crore in Series B funding led by led by Amicus Capital along with RPSG Ventures and its existing investors, Telama Investments. A brand focused on millennial India, mCaffeine manufactures all its products in the country.

Commenting on the occasion, Tarun Sharma,

Co-founder & CEO,mCaffeine, said, “In this round, we had three term sheets and chose Amicus Capital as we loved the long term, product-focused approach of the fund. We are extremely happy to have them alongside us while we build mCaffeine from Rs.100 crore to 500 crore brand in the next three years. We strongly believe in ‘Make in India’ and ‘Vocal for local’ to support home grown enterprises.”

“We will utilize the funds in scaling up our R&D capabilities significantly to consistently deliver high quality products that are well differentiated. Apart from R&D, we will invest in expanding our distribution across digital channels and continue to grow our operations, brand building and organizational scale up. There are about 20 products in portfolio so far and we have aggressive plans to further launch 15-20 products in the next one year.”

Founded in 2015 by Tarun Sharma and Vikas Lachhwani, mCaffeine is one India’s fastest growing personal care brands. The major wedge of investment in round came from Amicus Capital and RPSG Ventures in addition to other individual investors. The company previously had raised $2 million in a Series A funding round led by a group of investors led by RPSG Ventures.