The Darpan Sanghvi-led Good Glamm Group has made a complete acquisition of FemTech and feminine hygiene brand Sirona Hygiene in a whopping Rs 450 crore all cash deal with Deep Bajaj and Mohit Bajaj, who stepped down from their active roles earlier this year and have now resigned as active directors too.
This acquisition marks one of the largest cash exits for a direct-to-consumer (D2C) startup in India, especially in the FemTech space, as per Good Glamm Group.
Valued at over Rs 450 crores, this deal reinforces the confidence the market has in Sirona’s innovative approach and the transaction has also provided windfall benefits to Sirona’s employees through accelerated ESOP vesting, resulting in early financial gains- a testament to the founders’ commitment to rewarding its team.
Founded in 2014-15 by Deep and Mohit Bajaj, Sirona has earned a reputation as a pioneer in the FemTech industry, offering a range of products that cater to women from puberty to menopause.
In the past, the brand had introduced some of the country’s groundbreaking innovations such as PeeBuddy, one of India’s first stand-and-pee device for women, and other category-defining products like herbal period pain patches, exhaustive menstrual cups range, first period stain removers, anti-chafing rash creams, sanitary disposal bags, etc.
In 2022, Good Glamm Group invested Rs 100 crores in Sirona through primary and secondary investments, delivering substantial returns of 6x to 20x for early angel and seed investors. Since then, Sirona has tripled its revenues in just 24 months, driven by its relentless focus on innovation and social impact.
Also, Sirona has amassed for itself the stature of seamlessly integrating technology into its products, launching one of India’s first WhatsApp period tracker and building a vibrant online community through its app and taking bold steps to enhance feminine hygiene accessibility, installing feminine hygiene vending pods at Delhi airports- a move that set a new standard for convenience.
Furthermore, its acquisition of IMpower- a women’s safety pepper spray brand and one of India’s first vegan condom brand- BLEU also highlighted Sirona’s ongoing commitment to providing holistic solutions for women’s health and safety.
That being said, the brand’s pay it forward arm – Sirona Foundation also educated over 100,000 girls on the importance of menstrual hygiene and donated over 10,000 cups to women in need during this period.
Reflecting on the company’s journey so far, Deep Bajaj, Co-founder, Sirona Hygiene, said, “My wife often says, ‘everyone can see the Gucci shoes, but no one sees the blisters inside’—a sentiment that perfectly sums up our experience. From PeeBuddy, now used by over 3 million women, to Sirona Menstrual Cups, used by 4 million women as a pad alternative, we’ve built India’s highest-selling D2C feminine hygiene brand. It hasn’t been an easy road—bootstrapping, overcoming fundraising challenges, breaking taboos, and dealing with copycats – we have seen it all. This all-cash acquisition feels like validation for all the hard work. While it’s difficult to part with something we are so deeply connected to, Good Glamm is the ideal partner to take Sirona to the global stage.”
“It’s been a wild ride since 2014, with countless ups and downs. Building Sirona wasn’t easy—there were moments of struggle, doubt, and hardship. But through it all, what kept us going was the unwavering belief in our mission and the trust of those who stood by us. This moment is both bittersweet and a proud validation of a decade’s worth of work. I’m eternally grateful to every customer, employee, vendor, supporter, and investor who believed in our vision. Their support made this journey possible, and for that, I am deeply thankful,” added Mohit Bajaj, Co-Founder, Sirona Hygiene.
To this, Darpan Sanghvi, Group Founder and CEO, Good Glamm Group, also commented, “Deep and Mohit’s unwavering trust in Good Glamm Group’s vision has been instrumental in this acquisition. We share a common goal of empowering women through innovative and accessible health solutions. With Sirona’s pioneering spirit and our collective resources, we are excited to elevate the brand to new heights, creating a lasting impact on women’s wellness globally through innovative solutions and products.”
This acquisition is a significant milestone for Sirona and Good Glamm Group and is a testament to Sirona’s relentless pursuit of innovation and impact. As Good Glamm Group takes the helm, Sirona’s legacy of pioneering feminine hygiene solutions is poised to grow on the global stage.
