Gurgaon-based fund Redcliffe Capital on Wednesday said it has invested in an online retailer of safety and hygiene products, SafetyKart Retail while the company has moved its private label brand and product PeeSafe to a newly founded entity Redcliffe Hygiene. “Redcliffe Capital has bought a 10% stake in SafetyKart.com and a sizeable share in Redcliffe Hygiene Pvt. While the investment has gone to both SafetyKart and Redcliffe Hygiene, Jain did not disclose the absolute numbers. “We have made $1 million commitment across milestones and phases of brand building (of products under Redcliffe Hygiene)” he added. Founder of SafetyKart, Vikas Bagaria has joined the founding team of Redcliffe Hygiene and will be heading the venture, while SafetyKart will be led by a team of professionals.

Source: Mint April 11, 2017 19:52 UTC