Hygiene products maker Nobel Hygiene has raised nearly $20 million (Rs 170 crore) led by Neo Asset Management, the asset management arm of Neo Group, per an announcement.
The funding, comprising a mix of primary and secondary capital, comes at a time when the company is gearing up for an initial public offering (IPO). The capital raised will help Nobel Hygiene scale its distribution, deepen its reach in the adult diaper market, and expand operations across its product range, it said in a statement.
“This investment by Neo Group is not just a capital infusion; it’s a reinforcement of our commitment to lead and grow the adult diaper category in India. With this support, we are ready to amplify our consumer outreach, reinforce our distribution channels, and further solidify the leadership of our core brands, Friends adult diapers and Teddyy baby diapers,” said Kamal Johari, Managing Director & promoter of Nobel Hygiene.
Founded in 2000, Nobel Hygiene claimed that its flagship brand Friends holds over 40% market share. It also manufactures baby diapers under the Teddyy brand and sanitary napkins under RIO Pads. The company operates two manufacturing facilities in Nashik and Baroda and boasts of a nationwide distribution network of over 1,000 dealers and exports to more than 20 countries.
INDIA DEAL MONITOR
Here are the prominent venture capital transactions in India announced from May 15-19, 2025.
| Startup | Headquarter | Investment Size (USD) | Investment Stage | Lead Investor(s) | Other Investor(s) | Industry | Verticals |
|---|---|---|---|---|---|---|---|
| Nobel Hygiene | Mumbai | 20,000,000 | - | Neo Asset Management | - | Consumer Products | Beauty & Hygiene |
| Hocco | Ahmedabad | 10,000,000 | Series B | Chona Family Office, Sauce VC | - | Food | E-commerce |
| 1-India Family Mart | Delhi | 12,000,000 | Series D | Gulf Islamic Investments, Foundation Private Equity, Carpediem Capital Partners, Capri Global Holdings, JP Shukla | - | Retail | E-commerce |
| MedVital | Gurugram | 982,456 | Pre-Seed | 4point0 Health Ventures | Tata 1mg, NephroPlus, SafeExpress, Eye Q Hospital, Hexa Health, AstroTalk | Medical Devices & Equipment | Healthtech |
| Zenergize | Gurugram | 2,000,000 | Seed | Delhivery cofounder Mohit Tandon and Aspiring Minds founder Himanshu Aggarwal | - | Energy Storage & Batteries | Electric/Hybrid Vehicles |
| Citrus Freight | Bengaluru | 200,000 | Bridge | - | Caret Capital, Indigram Labs Foundation | Logistics/Distribution | Ridesharing/Transport |
| Fyn Mobility | Chennai | 2,500,000 | - | Vijay Kedia, Lloyd Balajadia, Swiggy chief financial officer Rahul Bothra | - | Energy Storage & Batteries | Electric/Hybrid Vehicles |
