Chennai: The Good Glamm Group, the Content-To-Commerce D2C brand beauty, is the 35th Indian Unicorn (worth more than $ 1 billion) for 2021, increasing $ 150 million in letter-D Series CO-led by Ecuitas investors Private Prosus Ventures (Naspers), Warburg Pincus along with participation from Alteria Capital and existing investors L’Occitane, Bessemer Venture Partners, Amazon, Capital Climics and Mankekar Family Office.
Round includes primary and secondary sales and the value of FMCG DigitalFirst groups around $ 1.2 billion after money.
Representatives of each Naspers and Warburg also set to join the group council with this round.
This group earlier in September was closed (RS 755 Crore-) Series-C $ 100 million.
This makes the largest series-C raise funds by beauty brands in India.
Founder Good Glamm Group & CEO Darpan Sanghvi said the company’s unicorn status was validation for the entire D2C category of beauty and tailwinds had been enjoyed since the pandemic.
“Even though getting to the public list is the ultimate goal, it is at least 2-3 years for us,” he added, noting that the group cheered for the IPO Nykaa and it had the potential to be a successful one.
Both the Glamm Group will take advantage of the latest funds to invest in product development, support for data science and technology research, increasing offline expansion, funds for working capital requirements while also expanding the ability to manufacture Popxo, Plixxo, Babychakra and Scoopwhoid.
The group said it would also continue investing in more beauty and personal care brands.
This group has the current revenue level of around $ 120 million and these projects at $ 250 million in March for setting the war chest around $ 100 million for strategic investment in the beauty & personal care of the brand.
This has made acquisition and investment worth $ 270 million to date.