The sexual wellness and pleasure brand was founded by entrepreneurs Devansh Agarwal and Shyamal Gupta last year and remained bootstrapped until raising its pre-seed round from external angel investors in 2024. It is currently valued at Rs 50 crore and plans to raise additional funds in the seed round.
“For me, Peppy represents an opportunity to drive a much-needed change in how sexual pleasure is perceived in India. While society has made significant changes in many areas, the taboo surrounding physical intimacy continues to hold people back. It prevents open and honest discussions on personal needs, highlighting the crucial need for creating spaces where open conversations can happen,” said Bam adding that by collaborating with Peppy, he aims to help people overcome these societal norms and empower individuals to embrace their journey toward intimacy with confidence and ease.”
The pre-seed round featured angel investors such as Bam, Rohit Raj, founder and CEO of BBKV Productions and Ruchi Gupta, among others. The brand is now raising its seed round to further expand its sales channels and market reach, it said.
According to Allied Market Research, the sexual wellness market was valued at $20.6 billion in 2023 globally, and is estimated to reach $32.5 billion by 2033, growing at a CAGR of 4.7% from 2024 to 2033. The Indian sexual wellness market generated $1.15 billion in 2020 and is expected to reach $2.09 billion by 2030.
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‘’Intimate wellness has often been brushed under the rug in India, but we cannot deny the fact that a fulfilling sex life is a crucial part of our overall happiness and well-being. With Bhuvan and Rohit’s signature creativity and knack for connecting with people, we’re breaking barriers and normalizing conversations around pleasure. Peppy is not just about products; we’re about revolutionizing the way India thinks about intimate happiness,” said Agarwal. “Our goal is to make sexual wellness products as common (and guilt-free) as buying your favourite skincare or snacks. From top-notch quality to body-safe, user-friendly designs, we’re here to ensure everyone—across all ages, genders, budgets, and backgrounds—has access to what they need to feel good.