Ayurvedic personal care brand Nat Habit is raising Rs 142.6 crore, or roughly $15 million, in a fresh Series C funding round led by Trident Growth Partners, according to regulatory filings from the Registrar of Companies. The round also drew participation from Bertelsmann, Firstport, Linklight Ventures and other investors, and it lands as the direct to consumer brand repositions itself under a new name, Breathe Life.
The company board is issuing 22.5 lakh Series C preference shares at an issue price of Rs 633.5 each to raise the Rs 142.6 crore, the filings show. The brand sells Ayurvedic personal care products, including shampoos, face washes and moisturisers, largely through its own website and online marketplaces.
Who is investing, and how much
Trident Growth Partners is leading the round with Rs 91 crore. Bertelsmann is investing Rs 37 crore, while Linklight Ventures is adding Rs 6.8 crore. Mirabilis, Firstport and Dharmayug Investments will contribute the remaining amount, according to the filings.
Entrackr, which first reported the regulatory details, estimated the company post money valuation at about Rs 800 crore. Moneycontrol had reported in July that Nat Habit was preparing a fresh fundraise. The round mixes a new lead investor with existing backers, a pattern common in later stage consumer deals where a company raises from fresh and old investors together.
After the fresh issue, Trident Growth Partners will hold an 11.44 per cent stake in the company, while existing backer Bertelsmann will hold 17.54 per cent of the cap table, the filings show.
Where the money will go
The fresh proceeds will be used for general corporate purposes, expansion and brand building, the filings state. Around Rs 2.6 crore of the total will be used to reduce the employee stock ownership plan, or ESOP, pool. Brand building is expected to support the shift to the new Breathe Life identity, while the ESOP reduction trims a small part of the cap table overhang.
A brand in the middle of a makeover
Nat Habit has rebranded itself as Breathe Life, a shift from a strictly Ayurvedic identity to a wider lifestyle proposition aimed at buyers beyond its original audience. The move is meant to widen the brand beyond the Ayurvedic shelf and reach customers who shop for everyday skin and hair care.
Read more: another D2C consumer brand that raised growth capital in a large round, DailyObjects Raises Rs 332 Cr in a Series C Funding Round.
Financials and valuation
The brand’s growth has come with widening losses. In FY25, revenue from operations rose 47.2 per cent year on year to Rs 106 crore, while losses climbed to Rs 29 crore, according to the filings. Nat Habit is yet to file its annual statements for FY26. At about Rs 800 crore post money, the company is being valued at roughly 7.5 times its FY25 revenue from operations.
Background and founders
Nat Habit is led by co-founders Swagatika Das and Gaurav Agarwal, who held 16 per cent each in the company before the fresh issue. The brand previously raised capital from Fireside Ventures, which led a Rs 30 crore Series A round in 2022, and the company had said it had accumulated about $2 million across earlier rounds.
What happens next
Nat Habit now has to turn a larger cheque into wider distribution and a sharper brand without letting losses widen further. India’s natural personal care market rewards brands that can win repeat purchases, but it is also crowded and online shelf space is not free. Whether the Breathe Life rename helps the brand stand apart is the next thing to watch.
