Mumbai-based private equity firm Ananta Capital has acquired a controlling stake in Phitku, a Gurugram-based personal care startup, marking the company’s first institutional funding round. The deal combines fresh capital with a partial buyout of existing shareholders’ stock. Financial terms were not disclosed.
Co-founders Neha Marda Agrawal, Sumit Marda, and Rahul Dokania will continue running the company and retain a minority stake, having sold down part of their holdings as part of the transaction.
Phitku, known for its alum-crystal roll-on deodorants, launched in early 2025 and had remained entirely self-funded until now. The brand got a national push after appearing on Shark Tank India’s fifth season, and sells through its own D2C site alongside major e-commerce and quick-commerce platforms.
The startup says it turned profitable within 14 months of launch and has served over 6 lakh customers to date.
What’s next
Phitku will use the new capital to invest in product development, brand marketing, and an eventual international expansion. In the near term, the company is focused on deepening its lead in the deodorant category before diversifying into adjacent products. It’s targeting 4-5x revenue growth over the next two years, aiming for Rs 300 crore in annual recurring revenue.
The buyer
Founded in 2020 by Ashutosh Taparia and backed by the Taparia family — which also controls Famy Care Group — Ananta Capital focuses on consumer, healthcare, and retail investments. Its portfolio already includes personal care labels Bella Vita and HipHop under its Guardian Group beauty arm, the Indian license for GNC, and a controlling stake in jewellery brand Rubans acquired last year.
The bigger picture
The Phitku deal is the latest in a string of acquisitions as larger players buy up digital-first, founder-led brands to capture younger, online-first consumers. It follows L’Oréal’s acquisition of Innovist, HUL’s purchase of Minimalist, and Estée Lauder’s buyout of Forest Essentials — signaling continued consolidation in India’s D2C beauty and personal care space.
