The Moromaa AJVC Fund investment has seen two prominent Indian law firms step in to advise either side of an early-stage funding transaction in India’s beauty and personal care sector. MKF Private Limited, which owns and operates the Moroccan skincare brand “Moromaa”, has secured funds from AJVC Fund. The deal was counselled by Triumvir Law on the investee side and Khaitan & Co on the investor side.
Moromaa is a Mumbai-based beauty, lifestyle and body care brand focused on building a distinct Moroccan beauty category in the Indian market. Founded in June 2026 by Soundous Moufakir, its sole founder and CEO, MoroMaa is building what it calls the “M Beauty” category in India, centred on Moroccan beauty ingredients, practices and traditions. The brand sources ingredients directly from Morocco and aims to introduce Moroccan beauty rituals to Indian consumers through its products.
The transaction represents an equity investment by AJVC Fund — the early-stage fund associated with investor Aviral Bhatnagar — into MKF Private Limited. Triumvir Law advised Moromaa and its Founder & CEO Soundous Moufakir on this transaction, advising on the review and negotiation of the transaction documents and assisting through to closing.
Deal Value
MoroMaa has raised ₹1.5 crore from Aviral Bhatnagar of AJVC in exchange for a 9% equity stake. The investment was made within the first few months of the brand’s commercial operations.
Legal Teams Involved
Triumvir Law — Advised Moromaa (MKF Private Limited) and its Founder & CEO
The transaction team consisted of Anubhab Sarkar (Managing Partner) and Ragini Chakraborty (Senior Associate).
- Anubhab Sarkar — Managing Partner
- Ragini Chakraborty — Senior Associate
Khaitan & Co — Advised AJVC Fund
Khaitan & Co advised AJVC Fund on this transaction. The names of the advising lawyers from Khaitan & Co were not disclosed.
Significance and Impact
This deal is notable for several reasons. Mumbai-based beauty and body care brand MoroMaa raised ₹1.5 crore in funding from Aviral Bhatnagar’s AJVC less than three months after launching in India. The swiftness of the fundraise underlines the investor appetite for category-creating consumer brands at the pre-revenue or very early-revenue stage.
According to the startup, two of its products sold out within the first two months of operations. This early commercial traction appears to have been a significant factor in attracting institutional backing at such an early stage of the brand’s life cycle.
The startup plans to use the funding to expand its product portfolio, strengthen distribution and increase its reach across the country. For the Indian beauty and personal care market, the transaction also signals growing investor interest in brands that seek to introduce globally distinct beauty traditions — in this case, Moroccan beauty — to Indian consumers.
From a legal-market perspective, the deal reinforces the emerging pattern of Triumvir Law and Khaitan & Co collaborating across the table on AJVC Fund’s portfolio investments, with the same core Triumvir team of Anubhab Sarkar and Ragini Chakraborty having advised on several comparable early-stage fundraises in recent months. For more on law firm deal activity, see the Deal Meter on The Courtroom.
The Moromaa AJVC Fund investment is a compact but meaningful early-stage transaction that brought together two well-regarded Indian law firms. Triumvir Law guided the founder through the full arc of transaction documentation and closing, while Khaitan & Co protected the investor’s interests on the other side. The deal positions MoroMaa for its next phase of product and distribution growth as it works to establish Moroccan beauty as a recognised category in India.
Disclaimer: This article is for informational purposes only and does not constitute legal advice. It is based on the details provided and publicly available sources.
