The Good Glamm Group has completed the acquisition of Sirona Hygiene for ₹450 crores (approximately $60 million) in an all-cash deal. This marks one of the largest cash exits for a direct-to-consumer (D2C) startup in India, especially in the FemTech space.
Following this acquisition, Deep Bajaj and Mohit Bajaj, co-founders of Sirona, had stepped down from their active roles early this year and have now resigned as active directors too.
The transaction has also provided windfall benefits to Sirona’s employees through accelerated ESOP (employee stock ownership plan) vesting, resulting in early financial gains.
Deep Bajaj, Co-founder of Sirona, said, “My wife often says, ‘everyone can see the Gucci shoes, but no one sees the blisters inside’—a sentiment that perfectly sums up our experience. From PeeBuddy, now used by over 3 million women, to Sirona Menstrual Cups, used by 4 million women as a pad alternative, we’ve built India’s highest-selling D2C feminine hygiene brand. It hasn’t been an easy road—bootstrapping, overcoming fundraising challenges, breaking taboos, and dealing with copycats – we have seen it all. This all-cash acquisition feels like validation for all the hard work. While it’s difficult to part with something we are so deeply connected to, Good Glamm is the ideal partner to take Sirona to the global stage.”
“It’s been a wild ride since 2014, with countless ups and downs. Building Sirona wasn’t easy—there were moments of struggle, doubt, and hardship. But through it all, what kept us going was the unwavering belief in our mission and the trust of those who stood by us. This moment is both bittersweet and a proud validation of a decade’s worth of work. I’m eternally grateful to every customer, employee, vendor, supporter, and investor who believed in our vision. Their support made this journey possible, and for that, I am deeply thankful,” added Mohit Bajaj – Co-Founder Sirona.
Darpan Sanghvi, Group Founder and CEO, The Good Glamm Group said, “Deep and Mohit’s unwavering trust in Good Glamm Group’s vision has been instrumental in this acquisition. We share a common goal of empowering women through innovative and accessible health solutions. With Sirona’s pioneering spirit and our collective resources, we are excited to elevate the brand to new heights, creating a lasting impact on women’s wellness globally through innovative solutions and products.”
Founded in 2014-15 by Deep and Mohit Bajaj, Sirona offers a range of products that cater to women from puberty to menopause. The brand has introduced innovations such as PeeBuddy, a stand-and-pee device for women, and other category-defining products like herbal period pain patches, exhaustive menstrual cup ranges, period stain removers, anti-chafing rash creams, sanitary disposal bags etc.
In 2022, Good Glamm Group invested ₹100 crores in Sirona through primary and secondary investments, delivering substantial returns of 6x to 20x for early angel and seed investors. Since then, Sirona has tripled its revenues in just 24 months, driven by its relentless focus on innovation and social impact. Their pay it forward arm – Sirona Foundation also educated over 100,000 girls on the importance of menstrual hygiene and donated over 10,000 cups to women in need during this period.
Sirona has seamlessly integrated technology into its products, launching India’s first WhatsApp period tracker and building a vibrant online community through its app. It has also enhanced feminine hygiene accessibility, installing feminine hygiene vending pods at Delhi airports—a move that set a new standard for convenience. It has also acquired IMpower, a women’s safety pepper spray brand, and India’s first vegan condom brand, BLEU.
