LOLA , a subscription service delivering tampons and pads, and now other products, including condoms, lubricant, and feminine cleansing wipes, has closed on $24 million in Series B funding. While the startup touts its products’ “100% organic” nature, it’s also well-received because of the customization offered and its direct-to-consumer nature. The new round of financing was led by private equity firm Alliance Consumer Growth (ACG), with support from existing investors Spark Capital, Lerer Hippeau and Brand Foundry Ventures. To date, LOLA has raised $11.2 million, from investors including also BBG Ventures, 14W, the founders of Warby Parker and Harry’s, Sweetgreen, Bonobos, and Insomnia Cookies. Celebs like Serena Williams, Karlie Kloss, Lena Dunham, and Allison Williams have also invested. Launched in 2015, LOLA’s founders Alex Friedman and Jordana Kier had the idea to challenge industry giants, like Tampax and Playtex, with a 100% organic product. “We founded LOLA with a simple and seemingly obvious idea – as women, we shouldn’t have to compromise when it comes to our reproductive health,” explains Kier. “Like most women, we’d been using the same feminine care products since we were teenagers. But when we found out that brands – including the same ones we were loyal to all those years – aren’t required to disclose exactly what’s in their products, it made us wonder: what’s in our tampon?” “If we care about everything else we put in our bodies, products for our reproductive health shouldn’t be any different,” she states. LOLA’s tampons, pads and liners are made only with organic cotton, not synthetic fibers, like those used mainstream brands. Nor do they contain fragrances or dyes. The nature of its products appeal to consumers – especially, young millennial women – who are more conscious of the chemicals in their products, as well as those who want to buy organic for the environmental benefits. That said, there’s a bit of debate over how dangerous (or not) it is to use traditional feminine care products. Skeptics , including some doctors , insist there’s no threat from conventional products. But even women not concerned with buying organic may find LOLA appealing because of its model.
India’s food delivery race is hotting up after Swiggy , one of the startups vying for pole position, landed $210 million in new capital for expansion and joined the billion-dollar startup unicorn club. The investment is led by existing backer Naspers, the media conglomerate famous for an early bet on Tencent in China, and new investor DST Global. Others taking part in the round include returning investor China’s Meituan Dianping and (another new investor) Coatue Management. The deal takes Swiggy’s valuation past the $1 billion mark for the first, with sources close to the company confirming that the deal values the company at around $1.3 billion. That’s perhaps not a tonne of surprise around today’s announcement since it has been rumored in Indian press for some time, with Economic Times first reporting on it in April . This Series G investment comes just months after Naspers and Meituan Dianping invested $100 million into Swiggy in February . The new round takes Swiggy to over $465 million raised from investors to date, making it India’s most-capitalized food delivery startup. Nearest competitor Zomato has raised some $440 million from investors that include Alibaba’s Ant Financial affiliate, Sequoia Capital and Temasek, but its business also includes markets outside of India, whereas Swiggy’s is firmly focused on its homeland. ( Zomato was most recently valued at $1.1 billion. ) Swiggy claims to cover 35,000 restaurants with a delivery fleet of over 40,000. The company isn’t giving financials at this point, but it said that it has seen “a three-fold increase in revenues in the last financial year.” The company isn’t saying in specifics how it will use the new capital, but a representative told TechCrunch that the plan is to invest in extending its reach to new locations in India and also to build out its logistics network to better serve customers.