Sublime Life raises nearly USD 2 Million through funding to power next phase of growth
1908 eventures Pvt Ltd, the company that runs the curated clean beauty platform, Sublime Life, has raised nearly 2 million US Dollars (is about 15 crs rupees) through funding from Roots Ventures, the family offices of Apar Industries and Chemet India as well as from HNIs and senior professionals from Reckitt, Google, Mr. Ashish Chugh, 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.
1908 eventures Pvt. Ltd. was set up in 2016 by Ador Multiproducts Ltd (AMPL), a leading contract manufacturer for India’s foremost personal care brands. The company’s flagship brand, Sublime Life, established in 2019, 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.
As Sublime Life focusses on becoming the biggest and pioneering clean beauty platform led house of brands with strong plug and play capability for brands in product development, manufacturing and supply chain, further investments are being strategically evaluated to match the vision.
Funds raised in this round will be utilized towards scaling up and strengthening the operations of Sublime Life, as also boosting 1908’s strategy to establish itself as a House of Brands. 1908 took its step towards the latter with the acquisition of home care brand, Santic, less than a year ago. The company is also evaluating more brand acquisitions and investments that find synergy with Sublime Life’s brand positioning
Sharing the details on the recent funding, Deep Lalvani, CEO, 1908 E-Ventures said, “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.”
Commenting on the investment, Japan Vyas, Managing Partner, Roots Ventures said, “India’s D2C ecosystem has evolved over the past 5 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.”
Roots Ventures is a sector agnostic fund house with capabilities to invest across sectors and company life cycle. The maiden Roots Ventures-I invests in businesses benefiting from the increase and changing nature of consumer wallet spend and its enablers.
This is one of many rounds of funding for Sublime Life. The company is excited to execute their way forward, and to conduct a fresh round of funding in the upcoming months which will be utilized for the company’s growth and enhancement plans.