D2C brand Ugees, an undergarment care start-up, raised its pre-seed round with an undisclosed amount from EvolveX, a global start-up accelerator by We Founder Circle (WFC).
Ugees emerged as a standout contender in EvolveX’s premier accelerator program, Cohort 4 launched in August 2023, WFC said in a release.
The company secured an undisclosed amount in the Pre-Seed round, with EvolveX leading the investment charge. Notable contributions also came from We Founder Circle (WFC), Vikas Aggarwal, and Amity Technology Incubator.
The start-up will utilise the funds to fortify its customer acquisition efforts, streamline operations, and expand its product portfolio with the introduction of new SKUs, the statement added.
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Commenting on the investment, Bhawna Bhatnagar, co-founder of EvolveX, stated, “At EvolveX, we see great potential in Ugees to reshape wellness markets through the integration of sustainable practices. As a guiding force, we stand well-positioned to provide strategic guidance, steadfast support, and mentorship throughout every phase of their development.”
Headquartered in Noida Ugees has been co-founded by Rahul Tyagi and Samiksha Yadav. Founders are seasoned professionals boasting a background in Biotechnology coupled with an MBA. With over nine years of experience in pharmaceutical manufacturing, lifestyle, and operations, both founders embody a commitment to excellence.
Commenting on the funds raised, Samiksha Yadav, co-founder and CEO of Ugees, remarked, “EvolveX’s investment transcends mere financial support; it stands as a profound endorsement of the transformative impact our products hold. We aim to redefine industry norms, promote better hygiene practices, and continue challenging the conventional practices in the hygiene and wellness industry.”
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EvolveX is an early-stage program founded by We Founder Circle, that has been providing high-impact acceleration to early-revenue start-ups from various sectors since its inception in 2021.
It offers its extensive network of seasoned mentors and successful entrepreneurs to guide start-ups on their journey to success. The program offers a range of benefits, including one-on-one mentorship sessions with handpicked angel investors and industry experts, upfront funding of $30,000, and $200,000 worth of credits.
