Funding · Commerce & Consumer Brands
Secret Alchemist raises $3m seed round led by Unilever Ventures
By Startup Enthusiast ·
- Date
- Company
- Secret Alchemist
- What it does
- Clean perfume brand with ingredient transparency
- Kind
- Funding
- Amount
- $3M
- Stage
- seed
- Based in
- Mumbai
- Founded
- 2021
What they do
Secret Alchemist sells clean perfumes and skincare products in India
What happened
The company raised $3 million in a seed round led by Unilever Ventures
Why it matters
This funding supports expansion into new markets and product categories
The details
- Secret Alchemist has closed a $3 million seed funding round.
- The round was led by Unilever Ventures, a corporate venture arm.
- DSG Consumer Partners participated as an investor in this latest raise.
- The total amount includes $2.5 million for primary equity issuance.
- The remaining funds come from a secondary sale of existing shares.
- Previous investors included Inflection Point Ventures (IPV) which led the prior seed.
- That earlier seed round raised approximately $898,000.
- The company plans to use the capital for R&D and distribution.
The bigger picture
- India's fragrance market suffers from significant under-penetration currently.
- Consumers are increasingly seeking clean and transparent beauty products.
- Corporate venture arms like Unilever are backing niche D2C brands.
- The investment signals confidence in ingredient-led wellness solutions.
About the business
- The brand focuses on clean perfumes and fragrances.
- It offers skincare and haircare products alongside its core line.
- Products include aromatherapy blends derived from essential oils.
- Secret Alchemist publishes full ingredient and allergen disclosures openly.
- Sales occur via its D2C website and major platforms like Amazon.
- The brand is also available on quick-commerce app Blinkit.
- Revenue grew sharply to ₹1.8 crore in FY25.
- Web traffic reached nearly 350,000 visits in the last month.
- The headquarters is located in Mumbai, Maharashtra.
What happens next
- Expand the product portfolio beyond perfumes.
- Strengthen research and development capabilities.
- Scale distribution across online and offline channels.
The deal
- Type
- Seed Round
Investors
- Unilever Ventures (lead) — Venture capital arm of consumer goods giant Unilever.
- DSG Consumer Partners (co-lead) — Investment firm focused on consumer sector opportunities.
Founders
- Ankita Thadani, Co-founder
- Akash Valia, Co-founder
- Samantha Ruth Prabhu, Co-founder
About Secret Alchemist
- Product
- s perfume brand
- Customers
- Consumers seeking natural, non-toxic, and aromatherapy-inspired perfumes and wellness products
- How it makes money
- Direct-to-consumer sales via proprietary online store alongside digital marketplaces and retail distribution
- What sets it apart
- Clean and toxin-free formulations combining traditional Indian aromatherapy botanicals with modern perfumery
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