Verlinvest, Mirchandani Family Raise Stakes In Epigamia In $20 Mn Secondary Deal

Existing shareholders Verlinvest and the family of late cofounder Rohan Mirchandani have bolstered their ownership in D2C brand Epigamia through a secondary transaction valued at $20 million. Sauce.vc also became part of Epigamia's investor list as part of the deal, which primarily involved acquiring shares from current investors and did not bring any new capital into the company.

The transaction was facilitated by DSG Consumer Partners and KA Enterprises, the investment firm run by Deepika Padukone, among other selling shareholders. Verlinvest, which backed Epigamia in 2016 as part of its $6 million Series A funding round, had since increased its stake in the startup through several subsequent funding rounds.

Epigamia CEO Ritesh Gauba expressed that the strengthened commitment from Verlinvest, the Mirchandani family, and the new institutional backing from Sauce underscored the company's potential for growth. Since its inception in 2015 by Mirchandani, Thakker, Krishnamoorthy, and Jain, Epigamia has grown to sell its products through various channels, including its website, ecommerce and quick commerce platforms, and offline retail stores.

The brand claims to have a distribution network spanning over 25,000 retail touchpoints across more than 30 cities. In FY24, Epigamia reported a decline in net loss to ₹17.4 Cr from ₹67 Cr in the previous fiscal year, while its operating revenue increased by 3.3% to ₹173.7 Cr.