Sublime Life Raises $2 MillionThe funds will be used to grow brand portfolio, launch international brands, acquire smaller D2C brands in the BPC and wellness space
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1908 eventures Pvt Ltd, the company that runs the curated clean beauty platform, Sublime Life, has raised nearly $2 million through funding from Roots Ventures, the family offices of Apar Industries and Umesh Sanghvi as well as from HNIs and senior professionals from Reckitt, Google, IBM and founders of a digital marketing firm. Promoter group, Ador and founders participated in this round as well with guidance from the transaction advisors, Nyuleaf Advisors, and ALMT Legal Bangalore.
Sublime Life curates sustainable, ethical, effective and cruelty-free skincare brands including Martiderm from Spain, Faith in Nature from UK and a number of homegrown brands like Juicy Chemistry, Mom's Co, Dr. Sheth's, and Bare Necessities. Funds raised in this round will be utilized towards scaling up and strengthening the operations of Sublime Life and for boosting 1908's strategy to establish itself as a House of Brands.
"As we move forward to transform our legacy B2B contract manufacturing business, I am happy to partner with Roots Ventures and other experienced investors. We would use these funds to grow our existing owned and exclusive brands portfolio, launch international brands and also acquire smaller D2C brands in the BPC and wellness space creating a unique platform with end-to-end capabilities," said Deep Lalvani, CEO, 1908 E-Ventures.
"India's D2C ecosystem has evolved over the years and has seen emergence of unique product offerings in the beauty and wellness space. Rather than just a brand acquisition strategy, brands require a platform which enables R&D to distribute. Leveraging the parent company's existing capabilities in R&D and manufacturing, the company intends to create a portfolio of domestic and international brands and an ensemble of brand enabler services to be used as a plug and play offering for external brands for a fee," said Japan Vyas, managing partner, Roots Ventures.
