Millenium Babycares, a leading direct-to-consumer brand, has successfully raised Rs 122 crore (approximately $14.5 million) in a funding round led by Bharat Value Fund, managed by Pantomath Capital. The fresh funds will be used to enhance the company’s manufacturing capabilities and strengthen its presence in both domestic and international markets, according to an official statement.
Founded in 2015 by Dipendra Bhimsaria and Ramprakash Beria, Millenium Babycares offers a range of pant-style diapers, catering to newborns through to XXXL sizes. The company’s products, available on their website, Amazon, and Flipkart, span three core segments: baby care, femcare, and adult care. Their popular “Bumtum” brand focuses on baby diapers, while their “Elduro” and “Freeme” brands serve the adult incontinence and sanitary napkin markets, respectively.
Headquartered in Indore, the company boasts an impressive production capacity, manufacturing 4 million baby diapers, 500,000 sanitary napkins, and 100,000 adult diapers daily. For the fiscal year 2023-24, Millenium Babycares reported revenues of Rs 585 crore, reflecting a significant CAGR of 53% from FY20 to FY24, with Rs 150 crore generated in the fiscal year ending March 2023.