Mamaearth has entered the unicorn club after closing a fresh funding round of $38 million from Sequoia Capital. According to the latest regulatory filing, Mamaearth has assigned 839 Series F convertible preference shares to Sequoia Capital for Rs 284 Crores. The startup offers a wide range of hair, face and body products. The latest unicorn claims that its products are dermatologically tested and are FDA approved, and are Made Safe Certified.

Mamaearth has been backed by investors like Sequoia India, Stellaris Ventures, Fireside Ventures, Marico’s Rishabh Mariwala, Snapdeal founders Kunal Bahl and Rohit Bansal, and Shilpa Shetty Kundra. The funding comes after Mamaearth acquired women-focused content platform Momspresso and its influencer engagement platform Momspresso MyMoney. Mamaearth competes against beauty platforms like Nykaa, SUGAR Cosmetics, Plum, WoW Skin, etc.