Ador Multi Products-led Sublime Life raises nearly $2 million through funding to power next phase of growth

21 Feb 2022 , 09:43 AM

1908 eventures Pvt Ltd (subsidiary of Ador Multi Products Ltd), the company that runs the curated clean beauty platform, Sublime Life, has raised nearly 2 million US Dollars (close to Rs15 crore) through funding from Roots Ventures, the family offices of Apar Industries and Umesh Sanghvi India as well as from HNls and senior professionals from Reckitt, Google, |BM and founders of a digital marketing firm.

Promoter group, Ador, and founders participated in this round as well with guidance from the transaction advisors, Nyuleaf Advisors, and ALMT Legal Bangalore.

1908 eventures Pvt. Ltd. was set up in 2016 by Ador Multiproducts Ltd (AMPL), a leading contract manufacturer for India’s foremost personal care brands. The company’s flagship brand, Sublime Life, established in 2019, curates sustainable, ethical, effective and cruelty-free skincare brands including Martiderm from Spain, Faith in Nature from UK and a number of homegrown brands like Juicy Chemistry, Mom’s Co, Dr. Sheth’s, and Bare Necessities.

As Sublime Life focusses on becoming the biggest and pioneering clean beauty platform led house of brands with strong plug and play capability for brands in product development, manufacturing and supply chain, further investments are being strategically evaluated to match the vision.

Funds raised in this round will be utilized towards scaling up and strengthening the operations of Sublime Life, as also boosting 1908’s strategy to establish itself as a House of Brands. 1908 took its step towards the latter with the acquisition of home care brand, Santic, less than a year ago. The company is also evaluating more brand acquisitions and investments that find synergy with Sublime Life’s brand positioning.

Sharing the details on the recent funding, Deep Lalvani, CEO, 1908 E-Ventures said, “As we move forward to transform our legacy B2B contract manufacturing business, | am happy to partner with Roots Ventures, and other experienced investors. We would use these funds to grow our existing owned and exclusive brands portfolio, launch international brands and also acquire smaller D2C brands in the BPC and wellness space creating a unique platform with end-to-end capabilities.”

Commenting on the investment, Japan Vyas, Managing Partner, Roots Ventures said, “India’s D2C ecosystem has evolved over the past 5 years and has seen emergence of unique product offerings in the beauty and wellness space. Rather than just a brand acquisition strategy, brands require a platform which enables R&D to distribution. Leveraging the parent company’s existing capabilities in R&D and manufacturing, the Company intends to create a Portfolio of domestic and international brands and an ensemble of brand enabler services to be used as a plug and play offering for external brands for a fee.”

On Monday at around 9:44 AM, Ador Multi Products was trading at Rs88 apiece down by Rs0.75 or 0.85% on Sensex.