India-based consumer product maker Happily Unmarried Marketing has secured approximately $8.4m in separate investments from IT services firm Wipro and classified listings provider Info Edge.
Founded in 2003, Happily Unmarried produces and sells novelty gifts, grooming and personal care products aimed at a male customer base through online and offline stores.
Wipro’s personal care product subsidiary, Wipro Consumer Care, has agreed to invest around Rs 50 crore ($7.7m) in return for a 20% stake in the company, according to the Economics Times. Wipro confirmed its investment but the financial details were provided by sources with knowledge of the deal.
Info Edge revealed in a separate regulatory filing that it had invested approximately $770,000 in the company, increasing its stake to 47%.
Info Edge had paid $900,000 for a 25% stake in Happily Unmarried in 2012 and has invested a further $3m in four tranches since, according to VCCircle.