Pakistani Women-Led Beauty Startup Raises a Massive Six-Figure Investment
Posted by PRESS RELEASE
A Pakistani brand of organic skin and hair care products, Conatural has announced their Pre-Series A round of investment in which it raised a six-figure USD investment including participation from Karavan, a local venture capital firm and a group of experienced angel investors.
This is one of the largest Pre-Series A investments raised by a female-founded startup in Pakistan. It is also the first capital raise of this type for a branded beauty startup in Pakistan. The company raised a significant quantum that will be used to accelerate growth and introduce new product lines plus online channels aimed at driving more sales into export markets.
Conatural is a women-led organization that is a pioneer in branding, manufacturing and retailing natural and organic beauty products tailored to the South Asian skin type. The founders, Myra Qureshi Jahangir and Rema Taseer’s vision was to inspire, empower and educate and provide beneficial beauty solutions that were free of toxic chemicals and to create beauty products that are both safe and effective.
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With natural and organic formulas along with no animal testing and commitment to recycling, the brand is committed to its 100% all-natural ethos. The company continues to focus on dermatological results and credentials along with sourcing certified and high-quality ingredients.
Conatural sells online, at its own physical stores at Emporium Mall and Packages Mall in Lahore as well as through high-end retailers within Pakistan. It also provides private-label services for personal care products and has co-branded with local retailers as well as some export clients.
“We’re really excited about the journey ahead. We are positioning ourselves as a key player in the market of natural and organic products, fostering product innovation. The USD 8 billion beauty industry continues to grow, and we look forward to building a great Company in an exciting category” said Myra Qureshi the CEO of the Company.
“Conatural’s innovative and high-quality products provide a unique value proposition, and I am excited to partner with a fast-growing brand as it continues to expand its product portfolio and omni-channel presence,” said Adeel Ahmad, a leading investor in this round, who is a seasoned investment banker focused on consumer and retail companies in the US.
Fahad Qureshi, an experienced investor and advisor in the Middle East and the US, also participated in this round and added that “The company’s founders have a penchant for the space and the success to date has demonstrated their grit and flexibility.
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“We are excited to back a great team.” Mikaeel Habib who represents i5 Capital commented, “Here are two dynamic sisters driven to change the beauty landscape in Pakistan. It is a women-led organization that focuses on women empowerment through job creation. Conatural has also launched campaigns raising awareness on the detriments of skin bleaching and is against such kind of culture-based advertising. The company is really well-positioned to take advantage of the rapid growth in the beauty sector of Pakistan which is growing at an annual rate of 13%.”
“I am delighted to participate in Conatural’s investment round. I am impressed by Conatural’s strong brand recognition within its addressable market in Pakistan; a testament to the efforts of the Founders on creating a sustainable business with a relentless focus on quality product and customer. I am very excited about the journey ahead!” said Zaki Sumar, a partner at Ernst and Young and an angel investor.
The funding will be used for Conatural’s continued product development and retail expansion. “We will continue to make Conatural the best product experience in the field of natural and organic and emerging as the pioneer and market leader. We are proud to partner with strategic investors who share our vision and look forward to building a clear brand based on the company’s ethos” said Rema Taseer, co-founder of Conatural.
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