Naturis Cosmetics, a contract manufacturer for beauty brands including Nykaa, Plum, Pilgrim, and Bare Anatomy, is raising Rs 33.74 crore ($3.5 million) in its maiden funding round led by Sharrp Ventures, with participation from Mirabilis Investment Trust.

According to its filing with the Registrar of Companies (RoC), the company’s board passed a special resolution to approve the issue of 12,784 preference shares at an issue price of Rs 26,400 to raise the above-mentioned amount.

Sharrp Ventures will lead the tranche with Rs 22.5 crore while Mirabilis Investment Trust will contribute with Rs 11.25 crore in the round.

The current tranche may be part of a larger funding round, as an earlier Economic Times report said Naturis Cosmetics was looking to raise Rs 80–100 crore.

According to Entrackr’s estimates, the Jammu-based company will be valued at around Rs 364 crore or around $38 million post-money.

Founded in 2011 by Rahul Tandon, Naturis Cosmetics is a B2B contract manufacturer that develops and manufactures skincare, haircare, personal care, fragrance, and cosmetic products for beauty brands. It provides end-to-end OEM/ODM, private label, product formulation, R&D, packaging, manufacturing, and regulatory support services. Its clients include Nykaa, Plum, Purplle, Bare Anatomy, and Ustraa, among other beauty and personal care brands.

Following the allotment of this tranche, Sharrp Ventures will acquire a 6.19% stake in the firm, while Mirabilis Investment Trust will own a 3.09% stake.

While the company is yet to file its FY26 financials, Naturis Cosmetics reported a 40% year-on-year growth in operating revenue to Rs 154 crore in FY25 from Rs 110 crore in FY24. The company also remained profitable, posting a net profit of Rs 12 crore during the year.