Svish on The Go, a direct-to-consumer personal hygiene business, said that it has raised $400,000 in its seed round from investors including Nueva.
The money will be used to diversify the startup’s product offerings, boost its R&D portfolio, and expand its position in retail chains and modern commerce, according to the company.
“Our new business development will primarily focus on launching new products as we are all set to introduce 40 new offerings in different categories including personal hygiene and body care,” Ishan Grover, CEO and Co-founder of Svish, said in a press statement.
Since November 2020, Svish has been self-funded. In the early days of the company, the co-founders put in Rs 1.40 crore of their personal money. It claims to have generated Rs 1 crore in revenue in less than ten months of operation.
Svish’s items have been purchased by about 30,000 people, according to the business.
Nueva, which led Svish’s seed financing, is a category II AIF Fund with LC Nueva Investment Partners as the investment manager and is based in India. It has a Rs 300 crore fund that it invests in early-stage technology companies.