Lahore-based natural beauty startup Conatural has raised $825,000 in a pre-Series A round from experienced institutional and angel investors.
Pakistan’s natural and organic skin and hair care brand, Conatural Company announced in a statement that it has raised $825,000. The round included participation from local venture capital firm Karavan and angel investors from the Middle East and China.
Karavan confirmed the size of the round and disclosed that the funds have been transferred to the startup. Moreover, Conatural is one of the largest Pre-Series A investment and is the one of its kind that offers branded beauty raised by a female-founded startup, as per the statement of Conatural.
Cofounded by Myra Qureshi Jahangir and Rema Taseer, Conatural is a women-led organization and a pioneer in branding, manufacturing, and retailing natural and organic beauty products tailored to the South Asian skin type.
The organization aims to make women empowered and inspired for being led by women that will provide opportunities to ladies in the workplace where almost 50 percent of staff would be female.
Myra and Rema believe that the amount raised in the Pre-Series A round is significant which is aimed to be used to grow the company through which new products would be introduced.
Conatural startup sells online, in its own physical stores at Emporium Mall and Packages Mall in Lahore, through high-end retailers throughout Pakistan, besides serving export markets.
“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 company’s ethos,” said Rema Taseer.
Commenting on the investment, Amad Saeed, partner at Karavan, said, “Conatural is innovating the way forward for the natural and organic beauty industry in Pakistan by building a brand that fundamentally redefines what beauty in Pakistan looks like. A brand that can compete on the global stage with the likes of Lush, Kylie Cosmetics (Kylie Skin), Huda Beauty (Wishful), and Glossier. Over the last 10 months of getting to know Myra, we are extremely excited to be joining her on this journey.”
Myra, the CEO of the company, said, “Conatural’s raise is well-timed with rapidly increasing demand for expansion. Therefore, partnering with serial investors brings significant competency along with capital.”