New Delhi, May 26 (PTI) Clensta, a startup in personal care and home care space backed by IIT Delhi, on Wednesday said it has raised Rs 5 crore from N+1 Capital.

The fund will be utilised for scaling up upcoming products for homecare category, Clensta said in a statement.

The company recently entered into a strategic tie-up with pharma firm Cipla for its first commercialised products 'Waterless Bodybath and Waterless Shampoo', it added.

Commenting on the fund raise, Clensta International CEO & Founder, Puneet Gupta said the company already has presence with over 500 hospitals and more than 25,000 retail outlets, including pharmacies and is now looking to penetrate through direct to consumer channels as well.

"This debt fund helps us grow further and reach out to consumers at a faster pace. Also (it) provides us the opportunity to expand offline as well as online (and) cover all important aspects of sales channel," he added.

N+1 Capital said Clensta is focused to exceed core financial goals; organic sales growth, earnings per share growth and adjusted free cash flow productivity, while improving market share and generating leadership levels of shareholder value creation. PTI RKL

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