Women’s brand Impower, gets acquired by Sirona Hygiene, a fem-tech company in an all-cash deal.
With the acquisition, Sirona Hygiene will foray into the female safety segment. The company will invest Rs 30 crore in Impower over the next two years, Deep Bajaj, cofounder and CEO of Sirona said.
“This acquisition is a natural extension of Sirona’s mission of creating a larger impact in society by providing awareness, education, and opportunity around all unaddressed issues - safety being one of them,” Bajaj said.
Bajaj said the company is bullish on strategic acquisitions and scaling up growth to hit the Rs 500 crore revenue mark within the next three years.
“Sirona has made great strides in the feminine hygiene category. Deep and his team have made lives simpler for women with their innovative products - the majority of which are habit-changing products but have been adopted at a mass scale, we need similar adoption for Impower and hence the alliance,” Akshay Dua and Tanisha Pant, co-founders of Impower said in a joint statement.
In April 2021, as part of its Series A round, Sirona had raised $3 million from IAN Fund and NB Ventures. Impower makes pepper spray, one of the bestselling brands in the category on ecommerce marketplaces founded by Akshay Dua and Tanisha Pant in 2018.
From the corresponding period last year, there was a 46 per cent rise in complaints about crimes against women in the first eight months of 2021, as per the National Commission for Women (NCW).
