BENGALURU: The Good Glamm Group (formerly MyGlamm), a content-to-commerce platform, has raised $150 million in a Series D fundraising round headed by prominent tech and private equity investors Prosus Ventures (Naspers) and Warburg Pincus.
Existing investors Alteria Capital, L’Occitane, Bessemer Venture Partners, Amazon, Ascent Capital, and the Mankekar Family Office participated in the round, according to a statement released by the firm on Tuesday. In addition, the company has completed a $10 million secondary share offering.
The Good Glamm Group is now valued at $1.2 billion, making it the first beauty commerce brand to join India’s prized unicorns, or privately held startups worth $1 billion or more, this year.
In 2021, the Good Glamm Group will become the 35th domestic unicorn, during a fundraising boom that favours Indian entrepreneurs.
In order to bring all of MyGlamm’s businesses under one umbrella brand, the company relaunched as the Good Glamm Group.
The Good Glamm Group is a digital ecosystem of content, community, and creator assets that markets a portfolio of proprietary beauty and personal care brands.
These include personal care companies such as MyGlamm cosmetics, MomsCo premium mom and baby clothing, and Infant Chakra baby items, which it bought this year.
These businesses make use of the Group’s digital assets, which include POPxo, a female content platform, BabyChakra, and the recently acquired ScoopWhoop.
“We were able to make multiple acquisitions as we created the content-to-commerce infrastructure thanks to previous fundraises (this year).” This cash raise, on the other hand, is aimed at reinforcing our brands’ value engines.
In an interview with Mint, Darpan Sanghvi, group founder and CEO of Good Glamm Group, said, “This involves constructing for offline distribution, research and development (R&D) on new items, and building our tech and data operations.”
