Conatural, Pakistan’s leading natural and organic skin and hair care brand announced their Pre Series A round of investment. The Company raised a USD six-figure investment including participation from Karavan, a local venture capital firm and group of experienced angel investors. Importantly, this is one of the largest Pre Series A investment raised by a female-founded startup in Pakistan. It is also the first capital raise of this type for a branded beauty startup in Pakistan. The company raised a significant quantum which be used to accelerate growth of the company including into new product lines and channels including online and driving more sales into export markets.
Conatural is a women-led organization and a pioneer in branding, manufacturing and retailing natural and organic beauty products tailored to the South Asian skin type. The founders Myra Qureshi Jahangir and Rema Taseer’s vision was to inspire, empower and educate and provide beneficial beauty solutions that were free of toxic chemicals and to create beauty products both safe and effective. With natural & organic formulas along with no animal testing and commitment to recycling, the brand is committed to its 100% all-natural ethos. The company continues to focus on dermatological results and credentials along with sourcing certified and high-quality ingredients. Conatural sells online, in its own physical stores at Emporium Mall and Packages Mall in Lahore, through high-end retailers throughout Pakistan and exports products. It also provides private label services for personal care products and has co-branded with local retailers as well as some export clients. Conatural is the new cult in natural beauty brand of Pakistan and has over half a million followers on social media. As a women led organization, it aims to inspire and empower women and provide opportunities for women in the workplace with almost 50% of staff being female. Its factory premises are ISO 22716 Good Manufacturing Practices (GMP) certified since inception. Conatural has experienced industry leading revenue growth capitalizing on the large addressable market and demand for natural and organic products. Many of the brand’s campaigns are based on social activism – highlighting Beauty Beyond Colour, and issues relating to women, autism, health and fitness.
The company and founders have been recognized by a number of third parties. For example, Conatural (UK) was awarded the “Best Emerging Organic Personal Care Wholesaler – UK” under the 2020 Health, Beauty & Wellness Awards. In 2019, Myra Qureshi the CEO of Conatural won the LADIESFUND Trailblazer Award for services to organic beauty. In 2018,
Myra was one of two women from Pakistan selected by the Australian Government and GTPA for a certification in potential “Women in Trade” in Sydney and Melbourne, Australia. In 2017, Myra won the Lahore Chamber of Commerce Awards in the “Green Category”.
When asked why they liked the brand, Amad Saeed, partner at Karavan said that “Conatural is innovating the way forward for the natural and organic beauty industry in Pakistan, being cognizant to the changing needs of the young population. They are building a brand in Pakistan that fundamentally redefines what beauty in Pakistan looks like. A brand that can compete on the global stage with the likes of Lush, Kylie Cosmetics (Kylie Skin), Huda Beauty (Wishful) and Glossier. Over the last 10 months of getting to know Myra, we are extremely excited to be joining her on this journey.”
The leading investor in the round, Weihan Liew, a serial entrepreneur and angel investor commented “Over the last decade, there have been various examples throughout Asia of local champions winning in the cosmetics and beauty products market and successfully competing with global giants. I believe Myra and Rema, being top-notched entrepreneurs with proven track records, will create the next-generation of a leading local beauty brand in Pakistan given their attention to quality, retail and marketing expertise and savvy use of technology.”
“Conaturals raise is well timed with rapidly increasing demand for expansion. Partnering with serial investors brings significant competency along with capital. We have laid a strong brand foundation, have a robust national and international expansion plan. We’re really excited about the journey ahead. We are positioning ourselves as a key player in the market of natural and organic products, fostering product innovation. The USD 8 billion beauty industry continues to grow, and we look forward to building a great company in an exciting category” said Myra Qureshi the CEO of the Company.
“Conatural’s innovative and high-quality products provide a unique value proposition, and I am excited to partner with a fast-growing brand as it continues to expand its product portfolio and omnichannel presence,” said Adeel Ahmad, a leading investor in this round, who is a seasoned investment banker focused on consumer and retail companies in the U.S.
Fahad Qureshi, an experienced investor and advisor in the Middle East and the U.S., also participated in this round and added that “the Company’s founders have a penchant for the space and the success to date has demonstrated their grit and flexibility. We are excited to back a great team.”
Mikaeel Habib who represents i5 Capital commented “Here are two dynamic sisters driven to change the beauty landscape in Pakistan. It is a women-led organization which focuses on women empowerment through job creation. Conatural has also launched campaigns raising awareness on the detriments of skin bleaching and is against such kind of culture-based advertising. The Company is really well-positioned to take advantage of the rapid growth in the beauty sector of Pakistan which is growing at annual rate of 13%.”
“I am delighted to participate in Conatural’s investment round. I am impressed by Conatural’s strong brand recognition within its addressable market in Pakistan; a testament to the efforts of the Founders on creating a sustainable business with a relentless focus on quality product and customer. I am very excited about the journey ahead!” said Zaki Sumar, a partner at Ernst and Young and an angel investor.
The funding will be used for Conatural’s continued product development and retail expansion. “We will continue to make Conatural the best product experience in the field of natural and organic and emerging as the pioneer and market leader. We are proud to partner with strategic investors who share our vision and look forward to building a clear brand based on the Company’s ethos” said Rema Taseer, co-founder of Conatural.
