Saffola Oil maker picks 45% stake in male grooming startup

Marico, the company behind oil brands like Saffola and Parachute on Friday said it has picked up 45% stake in men's grooming startup Beardo. The Gujarat-based startup, founded in 2015, sells beard oils, beard waxes, soaps and other grooming products for men's facial hair. Beardo received seed funding in September 2016 at a valuation of ₹40 crore.