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100X.VC Team
Written by various collaborators within Team 100X.VC
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Jun 24, 2023
Topic

Introduction:

 

Despite being aware of the importance of oral hygiene, many people in India still have bad oral care habits, such as irregular brushing and neglecting dental check-ups. However, there is a shift towards changing oral care trends that prioritise natural, safe, and effective products to enhance overall hygiene care. India is waking up to oral care and Spicta is tapping the market with its wide range of premium products.

At 100X.VC, we are excited to invest in Spicta, an innovative oral care startup that aims to provide natural, toxin-free, and effective alternatives to traditional oral care brands. Their  products are made with clean & premium ingredients, backed by science. With the growing awareness and demand for natural and safe products, Spicta is well-positioned to disrupt the Indian oral care market, which is currently dominated by conventional brands that lack innovation and consumer-centric products.

Spicta offers a range of fluoride-free, non-toxic, and non-alcoholic oral care products that provide holistic oral care solutions. Their products cater to various customer pain points such as abrasiveness, irritation, and lack of natural and safe alternatives. Additionally, they offer a unique range of herbal flavours that differentiate them from traditional mint flavours. Spicta aims to break the myths surrounding oral care and educate consumers about the right techniques to take care of their teeth.

The Indian oral care market is currently undergoing a shift in consumer behaviour, with increased awareness about oral hygiene and natural products. The category expansion is long due, and Spicta is well-positioned to capitalise on the growth trends in mouthwash, natural toothpaste, whitening toothpaste, and building a holistic oral care routine. With expected CAGR growth of 10.5% from 2022 to 2027, the overall market provides a significant opportunity for Spicta to establish itself as a niche and specialty player in the oral care market.

Jigar Vachharajani, a co-founder of Spicta, is a seasoned professional with 8 years of expertise in finance and strategy, garnered through his illustrious career in consulting and startups. Holding both a CA and MBA, his extensive knowledge and acumen contribute significantly to the team's success.

Kavita Yajnik, another co-founder, is an accomplished marketer with 7 years of experience in category management, specializing in the dynamic realms of e-commerce and telecom. Her tenure at Flipkart as Senior Manager - Category and at Vodafone as Manager Marketing has equipped her with a profound understanding of consumer behavior and market intricacies. Together, their formidable partnership drives Spicta's excellence in the industry.

Market Opportunity:

The Indian oral care market is currently behind the global market, with limited category exposure and a lack of awareness among consumers. However, the market is shifting gears, and new growth trends are emerging, creating a significant opportunity for Spicta.

The oral care market can be divided into three categories: oral health, oral hygiene, and cosmetics. Spicta's products cater to the oral health and oral hygiene categories, which are expected to witness significant growth in the coming years. The market for natural toothpaste is expected to grow at a CAGR of 12%, while mouthwash, whitening toothpaste, and electric toothbrushes are expected to grow at a CAGR of 17%, 11%, and 12%, respectively.

The Indian consumer behaviour pattern differs from the global market, with a lower adoption rate of mouthwash, floss, and whitening products. However, with increasing awareness about oral hygiene and the growing demand for natural products, the Indian market is expected to witness a significant shift in consumer behaviour. Spicta's unique product offerings, premium ingredients,innovative & refreshing flavours are well-suited to cater to this changing demand.

100X Thesis:

An Indian homegrown Oral care brand is yet to become big in India. Spicta’s initial traction has shown good customer engagement. 100X believes a scalable D2C brand will be built with the team - having a good balance and skill set.

Conclusion:

In conclusion, Spicta presents a compelling investment opportunity for 100X.VC, with a strong value proposition, a well-defined market opportunity, and significant growth potential in the Indian oral care market. We look forward to partnering with Spicta and supporting them in their journey towards disrupting the Indian oral care market.

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