Natural personal care company Nat Habit is raising ₹142.6 crore, approximately $15 million, in a Series C funding round led by Trident Growth Partners, according to regulatory filings reported on October 9, 2026. Existing investors, including Bertelsmann, Firstport, Linklight Ventures, Mirabilis and Dharmayug Investments, are also participating in the round. The company has recently rebranded as Breathe Life, signalling ambitions to expand beyond its original Ayurvedic personal care positioning.
The funding is expected to support business expansion, brand building and general corporate requirements. According to reporting based on the company’s regulatory filings, the round values the business at approximately ₹800 crore after the investment. The fundraising comes after the company reported ₹106 crore in revenue from operations and a ₹29 crore loss in FY25, highlighting the challenge of scaling a consumer brand while improving profitability.
Key takeaways
- Nat Habit is raising ₹142.6 crore, approximately $15 million, in a Series C round led by Trident Growth Partners.
- Trident is investing ₹91 crore, while Bertelsmann is contributing ₹37 crore and Linklight Ventures ₹6.8 crore.
- Other participating investors include Firstport, Mirabilis and Dharmayug Investments.
- The round implies an estimated post-money valuation of approximately ₹800 crore, according to Entrackr’s reporting.
- Nat Habit has rebranded as Breathe Life as it looks to broaden its lifestyle and personal care proposition.
- FY25 revenue from operations rose 47.2% year-on-year to ₹106 crore, while losses widened to ₹29 crore.
- The company plans to use the fresh capital for expansion, brand building and general corporate purposes.
Nat Habit Secures Fresh Capital in Series C Round
The latest financing marks a new stage in Nat Habit’s effort to scale its natural personal care business. The company is issuing 22.5 lakh Series C preference shares at ₹633.50 per share to raise ₹142.6 crore, according to regulatory filings cited in reports by Entrackr and other publications.
Trident Growth Partners is leading the investment with ₹91 crore. Existing investor Bertelsmann is contributing ₹37 crore, while Linklight Ventures is investing ₹6.8 crore. The remaining amount is being contributed by Firstport, Mirabilis and Dharmayug Investments.
The round is significant because it brings a new lead investor into the company’s capital structure while retaining participation from existing backers. Follow-on investment from previous investors can provide continuity as a company expands, although it does not guarantee future growth or profitability.
The reported post-money valuation of approximately ₹800 crore places a value on the business after the new capital is included. It is an estimate based on the reported transaction and should not be confused with revenue, cash in the bank or a publicly traded market capitalisation.
The fundraising also follows earlier rounds that supported Nat Habit’s product development and distribution. The company raised approximately $10.2 million in a Series B round in December 2023 led by Bertelsmann India Investments, with participation from existing and other investors.
The new funding gives Breathe Life additional capital to invest in its product portfolio, market reach and brand positioning. How efficiently the company deploys the money will be important in determining whether the expansion can generate sustained revenue growth and improve its financial performance.
Funding Breakdown: Who Is Investing in Nat Habit?
The reported Series C investment is being led by Trident Growth Partners, with participation from several existing investors.
| Investor | Reported investment |
|---|---|
| Trident Growth Partners | ₹91 crore |
| Bertelsmann | ₹37 crore |
| Linklight Ventures | ₹6.8 crore |
| Firstport, Mirabilis and Dharmayug Investments | Remaining amount |
| Total reported round | ₹142.6 crore |
Source: Regulatory filings cited by Entrackr and The India Bizz. Individual contributions are rounded where appropriate.
Trident’s ₹91 crore investment makes it the largest participant in the round. According to the reported post-funding shareholding, Trident is expected to hold an 11.44% stake in the company following the share issuance. Bertelsmann’s stake is expected to increase to 17.54%.
These percentages reflect the reported ownership structure following the proposed allotment. Shareholdings can change through subsequent funding rounds, employee stock options, transfers or other corporate actions.
The participation of existing investors suggests that Nat Habit has retained financial backing from firms already familiar with its business. However, the next phase will require the company to show that additional capital can support growth without creating an unsustainable cost structure.
Nat Habit Rebrands as Breathe Life
One of the most notable developments accompanying the funding round is the company’s rebranding from Nat Habit to Breathe Life.
Nat Habit built its identity around natural and Ayurvedic personal care products, including shampoos, face washes and moisturisers. The brand’s positioning appealed to consumers seeking products associated with traditional ingredients and natural approaches to everyday care.
The new name indicates a broader ambition. Rather than remaining narrowly associated with Ayurvedic personal care, Breathe Life can position itself around a wider lifestyle proposition. This could give the company flexibility to expand into adjacent categories, although a broader brand identity does not itself confirm that new products have launched.
Rebranding can serve several purposes for a consumer company. It can help a business communicate a broader product range, reach new customer segments and establish a more flexible identity as it expands. But it also involves risks, including the cost of changing packaging, digital assets, marketing materials and customer communications.
For an established direct-to-consumer brand, the challenge is to retain recognition among existing customers while introducing the new identity to potential buyers. Nat Habit will need to ensure that its existing product quality, customer experience and brand associations remain clear during the transition.
The funding and rebranding together suggest that Breathe Life is preparing for a broader growth phase. The extent of that shift will become clearer as the company discloses its product roadmap, new categories and distribution plans.
Revenue Rises 47.2%, but Losses Widen in FY25
Nat Habit reported revenue from operations of ₹106 crore in FY25, up 47.2% from the previous financial year, according to reported financial figures. Despite the increase in revenue, the company’s losses widened to ₹29 crore.
The results show the difference between growing sales and achieving profitability. Consumer brands often spend heavily on customer acquisition, product development, inventory, distribution and marketing as they expand. These costs can rise alongside revenue, particularly when a company is investing in brand awareness and entering new markets.
The available FY25 figures do not establish that every additional rupee of revenue was unprofitable. A complete assessment would require more detail on gross margins, advertising expenditure, employee costs, distribution expenses, working capital and other items in the company’s financial statements.
The company had not yet filed its FY26 annual financial statements in the reports covering the latest funding round. As a result, FY25 remains the latest reported annual financial baseline in those sources. Its subsequent revenue growth, expense levels and progress towards profitability should be assessed when updated financial statements become available.
Nat Habit Financial Snapshot
| Financial metric | Reported figure |
|---|---|
| FY25 revenue from operations | ₹106 crore |
| FY25 revenue growth | 47.2% year-on-year |
| FY25 loss | ₹29 crore |
| Latest reported funding round | ₹142.6 crore |
| Estimated post-money valuation | Approximately ₹800 crore |
Source: Reported financial results and funding coverage. FY26 annual results were not yet available in the cited reporting.
For investors, the next financial milestone is not simply whether revenue increases again. It is whether the company can translate sales growth into stronger contribution margins and, eventually, a more sustainable bottom line.
How Breathe Life Could Use the Fresh Funding
The company plans to use the proceeds for business expansion, brand building, general corporate purposes and related requirements. Approximately ₹2.6 crore of the proceeds is also earmarked for reducing the employee stock option plan pool, according to the reported filings.
Expansion could involve strengthening distribution, developing additional products and reaching more customers. For consumer brands, growth can come through direct online sales, marketplaces, retail partnerships and other channels. Each route has different economics, customer acquisition costs and operational requirements.
Brand building will be particularly important as Nat Habit transitions to Breathe Life. The company will need to explain the new identity while preserving the customer trust and product associations it has built under the original name.
The new capital could also support working capital requirements as the business expands. A wider product portfolio and greater sales volume can increase the amount of cash tied up in raw materials, finished inventory and receivables. Managing these requirements is important because revenue growth does not necessarily produce immediate cash inflows.
However, the company has not publicly disclosed a detailed allocation of the full ₹142.6 crore across individual initiatives in the cited reports. The funding should therefore be described as supporting the stated business priorities rather than assigned to specific expansion projects without evidence.
India’s Natural Personal Care Market Offers Growth Opportunities
India’s personal care market includes a wide range of products, from mass-market shampoos and cleansers to premium skincare, traditional formulations and specialised wellness products. Brands compete on price, ingredients, product performance, packaging, distribution and consumer trust.
Companies such as Breathe Life are attempting to attract consumers who want personal care products positioned around natural ingredients or Ayurvedic formulations. This positioning can help a brand stand out, but it also requires clear product communication and consistent quality.
The direct-to-consumer model gives brands more control over their online storefronts, marketing and customer relationships. It can provide direct feedback on consumer preferences and help businesses test products before expanding distribution. At the same time, online customer acquisition can be expensive, and brands may face intense competition for visibility on marketplaces and social media.
As companies grow, distribution across additional channels can increase reach but also introduce new costs and operational complexity. Retail partnerships may improve accessibility, while marketplaces can expose products to larger audiences. Both can affect margins depending on commissions, discounts, logistics and promotional spending.
For Breathe Life, the opportunity is to use its existing product recognition as a foundation for a broader business. Its challenge is to ensure that new categories and wider distribution create incremental demand rather than simply adding costs.
What the ₹800 Crore Valuation Means
The reported post-money valuation of approximately ₹800 crore reflects the estimated value assigned to the company after the Series C investment. It is based on the terms reported for the latest share issuance, rather than a price established through public-market trading.
Private-company valuations can change significantly between funding rounds. They depend on the amount of capital invested, the price per share, the company’s financial performance, investor expectations and the rights attached to the securities being issued.
A valuation should also be considered alongside revenue and profitability. Nat Habit’s estimated ₹800 crore post-money valuation is approximately 7.5 times its FY25 revenue of ₹106 crore, using the reported figures. This is a simple comparison of valuation with revenue, not a full assessment of the company’s worth or a standardised valuation multiple based on audited current-year results.
The comparison also uses different measurement dates: the valuation relates to the latest funding round, while revenue refers to FY25. Investors would need updated financial statements and further information on margins, cash flow and growth prospects to make a more complete assessment.
For the company, the key question is whether it can build a larger and more profitable business that supports the valuation over time. For investors, the return on the investment will depend on future performance, ownership dilution, the terms of the financing and eventual exit opportunities.
The Bigger Picture
Nat Habit’s Series C round reflects continued investor interest in Indian consumer brands that have established a product proposition and are seeking capital to expand. The ₹142.6 crore investment, led by Trident Growth Partners, gives Breathe Life additional resources to broaden its reach and strengthen its brand. The rebranding also suggests that the company wants to move beyond its original Ayurvedic personal care identity toward a wider lifestyle proposition.
However, the company’s reported FY25 losses underline the challenge facing many growing direct-to-consumer businesses. Higher revenue can support scale, but sustainable growth also requires control over marketing costs, distribution expenses, inventory and product economics. Breathe Life’s next phase will depend on whether it can translate new funding and broader positioning into profitable growth.
Looking Ahead
The next important indicators will be Breathe Life’s FY26 financial results, the pace of its product and distribution expansion, and evidence that the new brand identity is resonating with customers. Investors will also be watching whether the company can improve margins as it grows and whether its wider lifestyle proposition creates meaningful new demand. The reported funding provides additional capital, but the company’s execution will determine how effectively that capital is used.
Over the longer term, Breathe Life will need to balance brand investment with financial discipline. A successful transition would combine the recognition built under Nat Habit with a broader product portfolio and repeat customer demand. If the company can sustain revenue growth while narrowing losses, it may strengthen its position in India’s competitive personal care market; if costs grow faster than sales, expansion could continue to place pressure on profitability.
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