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E-commerce roll up startups are indeed having a field day. Barely 24 hours after Mensa Brands became India’s youngest unicorn, the Gurugram-based UpScalio announced on Wednesday that it has acquired upcoming kitchen brand Hestia.
This is UpScalio’s fourth investment. Its previous acquisition includes Green Soul Ergonomics, Polestar and Trase. The fourth acquisition marks company’s foray into premium and fast-growing consumer appliance brand.
Established in 2018 by Nehal Shah, Ex-director GE Healthcare, Hestia manufactures high-end kitchen appliances that are designed to improve household’s healthcare. It manufactures kitchen appliance products like cold press juicers, blender, egg boiler and vacuum blender.
UpScalio has said in its official press release that it plans to grow the Hestia to 50 Cr ARR in next 2-3 years.
UpScalio claims that it chooses to acquire brands that boost over $1 Mn in revenue and at least 15% EBDITA margin.
Speaking on the investment, Saaim Khan, Co-Founder and COO, UpScalio, said “Hestia is a culmination of Nehal’s innovation streak and his extensive experience in the health industry. The brand has shown immense commitment to providing the healthiest solutions to Indian consumers as the Indian consumer becomes more discerning about their lifestyle choices. The partnership was born out of a shared vision of ushering health revolution through technological innovation and we are aligned on the direction of growth we’d like to unlock for the brand.”
It must be noted that last week another well-known e-commerce roll up startup Evenflow acquired online sports brand Xtrim.
UpScalio, Mensa Brands and EvenFlow are inspired from Thrasio. Thrasio is an American startup that acquires promising third party brands on Amazon and scales it further. Such startups are called e-commerce roll up firms.
Thrasio’s success has paved way for a new-born lucrative industry and the likes of UpScalio are trying hard to replicate this success back home.
