mCaffeine's parent aims to raise $50-70mn

Pep Technologies Pvt. Ltd, which owns mCaffeine and Hyphen brands of personal-care products, is looking to enlist investment banks to arrange its next fundraise, which is likely to see a few early-stage investors exit the Mumbai-based company.

“Early investors may look for an exit this year, and the company is planning to raise anywhere between $50 million and $70 million in 2024. It will be a mix of primary plus secondary fundings, though the majority of it will be secondary. The funds will be used to grow its brand Hyphen," said a person familiar with the development. Some of the funds may seek a partial or full exit depending on the valuation, a second person said.