Bollywood actor Ayushmann Khurrana has invested an undisclosed amount in Gurgaon-based male grooming startup The Man Company (TMC). The actor would also be the brand ambassador for the company.
The Man Company was founded in 2015 by Bhisham Bhateja, Hitesh Dhingra, Rohit Chawla and Parvesh Bareja. The company is known to offer a head-to-toe range of men’s grooming products across various categories, including bath and body management, shaving and perfumes.
Commenting on the investment, Hitesh Dhingra, Founder and MD, The Man Company, said, “With his support, we are going to offer men world-class grooming essentials and empowering them to look and feel their very best.”
Ayushmann said, “The definition of a gentleman has thankfully evolved today, and I believe men should be comfortable to embrace their vulnerability and their weaknesses. It doesn’t make them less of a man. I immediately connected with the philosophy of The Man Company and consider the company as a progressive and extremely inclusive brand whose products I love using. The company has impeccable business insights, and I will be deeply invested in ensuring that the company grows from strength to strength in the years to come,”
TMC claims it commands a 30% market share in the beard grooming category and has received two rounds of funding from Kolkata-based FMCG brand Emami. It claims to have established 1,000 brand touchpoints in 30 cities. Along with the new investment and brand association, TMC is launching a “Bring Out The #GentlemanInYou” campaign which will be led by Khurana.
According to a May 2018 report by Research And Markets titled “India Men’s Grooming Market Outlook, 2023,” the Indian men’s grooming market is expected to grow at a CAGR of more than 10% between 2018 and 2022. Some other startups in this niche domain include Beardo, Ustraa, Happily Unmarried, Bombay Shaving Company and the Indian Grooming Club among others.
Apart from Ayushmann, many other Bollywood actors have turned investors.
- In June, Bollywood actor Shahid Kapoor and his wife Mira Kapoor backed yoga and wellness startup, SARVA.
- Akshay Kumar also invested an undisclosed amount as part of Series C funding in wearable tech startup, GOQii.
- Bollywood celebrity Deepika Padukone has backed two startups including IISc-incubated spacetech startup Bellatrix Aerospace, and flavoured and greek yoghurt brand Epigamia.
- Aishwarya Rai also donned the investor’s hat along with her mother Vrinda KR in July by investing a little more than Rs 1 crore in Bengaluru-based environmental intelligence startup Ambee.
You may also like,
You might also like
More from Entrepreneur
Online learning platform Adda247 has raised Series B funding of $6 million led by Infoedge (India) Ltd and Asha Impact. …
Amazon-backed intracity bus aggregator Shuttl has raised a little over $18 million (Rs 128 crore) from a unit of the …
Digital payments company PayU has acquired a minority stake in wealth tech startup Fisdom by leading a $11 million (Rs 78 crore) funding round along with …