Ananta Capital has taken a majority stake in Phitku, an Indian direct-to-consumer startup specializing in alum-based natural deodorants, aiming to accelerate product development and market reach.
- Ananta Capital acquires majority stake through primary and secondary investment.
- Phitku focuses on alum crystal deodorants sold primarily via D2C channels.
- Investment aims to boost growth 4-5X and reach ₹300 Cr ARR in two years.
What happened
Ananta Capital, a Mumbai-based private equity firm, has acquired a majority stake in Phitku, an Indian direct-to-consumer (D2C) personal care startup known for its alum-based natural deodorants. The deal involved a combination of fresh capital infusion alongside a secondary purchase of shares from existing stakeholders. Although the transaction size has not been publicly disclosed, it marks a significant financial milestone for Phitku, which was bootstrapped prior to the investment.
Phitku was launched in early 2025 by founders Neha Marda Agrawal, Sumit Marda, and Rahul Dokania. The startup gained wider recognition after appearing on Shark Tank India Season 5. Despite being relatively young, Phitku has rapidly built a customer base exceeding 600,000 across India, selling primarily through its D2C platform as well as e-commerce and quick-commerce marketplaces.
Why it matters
This investment highlights the growing trend of private equity firms and larger conglomerates acquiring stakes in promising D2C startups to capitalize on their direct consumer base and digital presence. For Ananta Capital, this acquisition fits strategically within its focus on consumer, healthcare, and retail sectors, complementing its existing portfolio of personal care and wellness brands.
Phitku’s strong early profitability and focused product portfolio centered on natural, alum-based deodorants underscore the potential for sustainable growth in niche personal care segments. The capital boost offers the startup resources to accelerate product innovation, enhance branding, and expand selectively into international markets, aiming to scale its annual recurring revenue to ₹300 crore over the next two years.
What to watch next
Industry observers should monitor how Phitku leverages this new investment to deepen its market presence and whether it can maintain profitability while scaling rapidly. The brand’s concentrated approach to dominating the alum-based deodorant category prior to exploring adjacent personal care categories will be a key factor in its future trajectory.
Additionally, the broader pattern of PE firms like Ananta Capital acquiring digital-native consumer brands may accelerate, intensifying competition in India’s evolving personal care market. How Phitku integrates into Ananta’s portfolio alongside brands like Bella Vita and HipHop could also signal opportunities for cross-brand synergies and innovation within the group.