Godrej Consumer Products Limited (GCPL) has announced that it will be investing Rs 100 crore in ‘Early Spring’, a new Rs 300 crore early-stage consumer fund being set up by Spring Marketing Capital (Spring).
The Early Spring Fund will be investing Rs 5 crore to Rs 20 crore in each company, from seed to pre-series A stage. In addition to this, GCPL said that it will anchor the fund in addition to offering its expertise and experience to help founders of early stage startups.
Omar Momin, head M&A, GCPL says that the company is excited to collaborate with new-age companies in the home and personal care and health & wellness space along with Spring Marketing Capital.
“We intend to leverage our understanding of consumer space and learnings over the last decades to enable early-stage founders focused on building strong offline as well as online presence by offering differentiated products in India,” he adds.
“I would urge new-age companies in these categories to connect with and leverage Spring’s expertise and experience across the spectrum of brand building, manufacturing, product development, distribution and future capital raises,” he shares.
Spring is helmed by a trio of founders – Raja Ganapathy, Arun Iyer and Vineet Gupta – who bring together decades of investing and brand building experience. Enabling companies to leverage marketing expertise along with capital, Spring’s first fund of Rs 150 Crore continues to invest in companies at Series A and beyond.
Godrej Consumer Products is a part of the 125-year-young Godrej Group. GCPL sells household insecticides, air care and hair care in emerging markets of India, Indonesia, and Africa.