~ The new-age, gender-inclusive period care brand plans to invest majority of the funds raised in new product development and expanding their presence across international geographies ~
National, 29th June 2022: Lemme Be, young India’s bold and proud period care brand, today announced the closure of 11.5 Cr Equity fundraise and 2 Cr Debt . The Pre-Series A funding round was led by investors - Multiply Ventures, Wami Capital, Sattva Family office, Anicut Capital AIF and Grip Investment.
Lemme Be will use this freshly infused capital to strengthen their short term and long-term strategies. This Hyderabad based start-up plans to straighten their marketing activities and build a larger team to support channels and will be streamlining operations for faster deliveries, and retail presence. Lemme Be will also be expanding into new geographies like Dubai, US & Australia and will invest further in research and New product development.
Devidutta Dash, the CEO and Founder of Lemme Be said, “We are an inclusive period care brand that believes in constant improvement. Period care as a category in India lacks lustre, research and open conversation and has been unable to create a habit shift for users to more sustainable options. As a Gen Z brand, we at Lemme Be are constantly connecting and engaging with menstruators with an aim to create a safe space for them to express their period journey and curate unique solutions for unique problem statements. We are also extremely grateful for our investors’ unwavering faith in our brand and our unstoppable team that champions a period positive society”.
Excited about this announcement, Lemme Be COO & CFO - Vinod Abrol commented, “We at Lemme Be are a gender-inclusive brand with a wide range of affordable, sustainable and comfortable products. We are building a business with high growth trajectory keeping focus on unit economics, which is currently positive after covering all the costs pertaining to fulfilment and marketing. Our focus on the Indian market has been seeing good results enabling us to break even at scale in the next 12 months. The recent funds raised will only help us build further and stronger in our journey of creating a period-friendly environment for menstruators all across”.
Sanjay Ramakrishnan, Partner at Multiply Ventures at Multiply Ventures, Bangalore based early-stage venture capital (VC) firm, said, “The period space is one that has for a long time ignored sustainability. Companies have marketed disposable period products for decades but haven’t always been transparent about the chemicals used to make them or their harmful environmental impact. Period care needs to be reimagined! It has to be sustainable, needs to cater to consumers very early in their period journey, and most importantly must be empowering menstruators in every possible way. ‘Lemme Be’ has started with that very vision of changing the way we think about periods, particularly Gen Z menstruators, to believe they deserve high-quality period care which is accessible ethically and sustainably made. We at Multiply Ventures, believe there is an opportunity to create a bold, empowering & sustainable new-age period care brand and are very excited to partner with the team at Lemme Be!”
Lemme Be plans to achieve 30 Cr revenue this FY and break even at scale in next 12 months. Currently, the brand is witnessing a rapid steep growth of 100 per cent month-on-month and had raised 5cr seed funding this year in January.
Since its launch, Lemme Be work force has expanded from six members to a powerhouse of over 70 self-motivated and empowered individuals. Lemme Be products are available on their website, as well as other e-commerce sites including Myntra, Flipkart, Amazon, Nykaa, Snapdeal, Meesho, Woovly, Swiggy Instamart, Big Basket and others. The brand’s gender inclusive sustainable product range consists of pads, tampons, pantyliners, menstrual cups and discs, period planners amongst the vast product portfolio that the brand offers.
For more information, log on to: www.lemmebe.com
About Lemme Be:
Lemme Be is a Hyderabad based period care brand. Lemme Be focuses on the variety and individuality of every product as per the needs of menstruators and has curated a special range of products exclusively for teens and young adults which are organic, sustainable, and affordable. Lemme Be is on its way to becoming a brand that is breaking barriers of communication around menstrual health and aims to initiate more positive dialogues about all menstruators among the society to educate, communicate and evolve.
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