Perfora: Our Thesis

Building India’s first and only digital-first brand making everyday oral care easy, accessible, and habitual.

Perfora is a new-age D2C oral care startup designed to elevate your everyday oral care regime. With its science-backed, design-led, and sustainability focussed approach, it aims to disrupt traditional oral care regimes through its comprehensive suite of oral care products. Perfora is creating a clean-label, science-backed, and sustainable digital-first oral care brand. Since dental health care applies to everybody, regardless of age, gender, lifestyle, and other qualitative factors, Perfora aims to create a comprehensive, full-stack solution: An end-to-end oral care platform, that enables consumers to purchase a whole suite of products that standardizes as well as elevates everyday oral care.

Our Stance

At Huddle, we’ve consistently backed founders solving real consumer problems in sectors that are largely traditional and are ripe for disruption. We’ve seen this journey play out with Perfora, having backed them pre-product since inception and have witnessed promising growth in the brands innovation and the brand love they have garnered. Our proximity towards the team has only grown in the past few months, as the team has shown strong execution as incumbents in a relatively traditional FMCG category.

Nature of the Target Market

According to L&T, the Indian oral care market is valued at approximately $2Bn, growing at a healthy 8.6% CAGR. Similarly, a HDFC securities 2021 FMCG sector report showcases oral care as a category under HSIE Consumer Index (Weighted Average YoY) expected to match growth levels to that of personal care, hair care, and F&B, hereby signalling strong consumer sentiment within Indian households for oral care products.

The product distribution split within oral care is heavily skewed towards Toothpaste (69%), Toothbrush(23%) and Mouthwash, Toothpowder, and other products accounting for the remainder (8%).

Furthermore, India’s dental health presents a staggering narrative. India is considered the world capital for oral cancer with over 80,000 new cases every year, caused due to extreme tobacco consumption and presence of sugary diets. According to government estimates, more than 70% of school children in India are suffering from dental caries and more than 90% of the adult population is affected by periodontal disease

India’s dental health has declined over the years and will continue to persist. However, increasing disposable income and rising awareness amongst the target audience allows Perfora to create a truly differentiated brand that fights this narrative providing high quality oral care products and building strong oral care habits amongst the masses.

The Problem At Hand:

India has struggled to maintain the global standard for optimum oral health of its population for over three decades, suggesting systemic health barriers, contributed by a serious lack in consumer sentiment and awareness. While the medium of oral healthcare is reduced to a habit, progressive and proactive care has largely been ignored. Moreover, India’s population is vulnerable to extremely unhealthy diets and substance dependence through tobacco, further deteriorating dental hygiene in the country

A recent national study conducted by KANTAR IMRB for Colgate-Palmolive (India) studied 2,030 adults and 1,080 children belonging to diverse socio-economic backgrounds across 12 cities in India and revealed a troubling narrative:

  • About 9 out of 10 adults surveyed suffer from a major oral health problem.
  • More than 76% adults in India either have cavities or are at a high risk of developing them.
  • Among adults who brush only once daily, 95% of them have oral health problems and 83% have cavities or are at a high risk of developing them.

Given that the modern millennial has increased disposable income and that there has been a systemic shift in consumption patterns, leading to increased focus on health and wellness, oral care as a category is expected to grow, giving Perfora the right time, positioning, and product to create a brand that not only standardizes but also elevates everyday oral care for the everyday consumer

The hypothesis here is that, similar to F&B and Personal Care, Oral care will see dedicated spend allocation and wallet share in the next 18-24 months. This trend has been vetted through both qualitative (primary research) and quantitative (India FMCG sector securities analysis ) factors.

Why Perfora?

Innovation in the oral care market has been dismal, wherein products have not evolved alongside increased customer purchasing pedigree. As a first-of-it’s kind solution, digital-first, clean, functional and design-led brand that elevates everyday oral care experience for the modern day consumer. Perfora is uniquely positioned as a holistic oral care brand with scientific and effective solutions for aspirational and discerning consumers.

Pre-Seed + Seed Investments

RocketFuel x Huddle

Recent developments such as the SEBI Circular surrounding revamped ESG and Sustainability reporting are a welcome addition, encouraging large-scale enterprises to adopt tech solutions that aid in carbon reduction, ESG compliance, and Climate Education.
Carbon (Dioxide) is one of the building blocks of all organisms on Earth, such that it allows Earth to hold it’s energy. Carbon Sequestration is the process of capturing and storing atmospheric carbon dioxide. It is one method of reducing the amount of carbon dioxide in the atmosphere with the goal of reducing global climate change.   There has been growth in startups working on carbon capture/tech sequestration that capture CO2/ GHGs and utilize them to create value-added products and/ or sell offsets on exchanges.
Given the large depth in climate finance required, emerging forms of climate finance will be important for us to consider. For example, Refi (Regenerative Finance) is a movement focusing on the power of blockchain and web3 to address climate change, support conservation and biodiversity, and create a more equitable and sustainable financial system.
Energy storage and management for mobility & transport use cases have observed strong investor traction historically, and we believe this trend will continue in the next 3-5 years. This includes Electric vehicles as a category.

Agriculture has vast potential with respect to climate change. Building agri-food supply chain efficiencies will be very important to reduce post-harvest food losses. Hence, solutions that use technology to reduce food losses from farm-to-folk or provide cold-chain infra would be relevant to consider. 

 

Additionally, precision agriculture will be crucial to increasing farm yields, but the sector is vast ranging from farm advisory to Agri inputs to IoTs and deep tech hardware solutions. Hence, we will opportunistically look at this theme to scout good startups.