Good Glamm Group, which claims direct-to-customer beauty brand MyGlamm, has gathered up $150 million in its Series D round led by Prosus Ventures ( previously Naspers), Warburg Pincus along with the participation from Alteria Capital and existing investors L’Occitane, Bessemer Venture Partners, Amazon, Ascent Capital and the Mankekar Family Office.
The company claims to be India’s first immediate to shopper beauty and personal care company to reach unicorn status with a valuation of $1.2 billion. This is overall 35th startup and second D2C brand after Licious to attain unicorn status in 2021.
This is an almost 12-overlay bounce in the company’s valuation in eight months. The company was valued at around $100 million during the first tranche [$24 million] of its Series C round in March this year. The round was shut at $71 million in July at an undisclosed valuation.
Good Glamm Group will use the assets to invest in item improvement, support data science and innovation research, increase offline expansion, store working capital prerequisites. Furthermore, it will also expand the substance creation capabilities and digital reach of POPxo, Plixxo, BabyChakra, The Moms Co. and ScoopWhoop.
Good Glamm Group has been on an acquisition spree since its first takeover [POPxo] in August last year. Since then, at that point, the company has associated five brands in its portfolio. Digital media and way of life content platform ScoopWhoop and direct to purchaser D2C brand The Moms Co. are the latest addition to it.
The company claims that it has already made acquisitions and investments worth $270 million to date in beauty and personal care brands. According to Entrackr’s sources, the company is eyeing more acquisitions in the D2C beauty and personal care brands section in the coming months.
Media reports also recommended that Good Glamm Group is looking for an IPO by the financial year 2023-24.
