THE WHAT? MyGlamm parent company Good Glamm Group has raised US$150 million in a Series D funding round, including both primary and secondary capital.
THE DETAILS The round was co-led by marquee tech and private equity investors Prosus Ventures, Warburg Pincus, with participation from Alteria Capital and existing investors L’Occitane, Bessemer Venture Partners, Amazon, Ascent Capital, Stride Ventures and the Mankekar Family Office.
The funding sees the Good Glamm Group become India’s first DTC beauty and personal care company to reach Unicorn status.
THE WHY? The group will be using the latest funding to invest in product development, support data science and technology research, increase offline expansion, fund working capital requirements as well as expanding the content creation capabilities and digital reach of POPxo, Plixxo, BabyChakra and ScoopWhoop.
Darpan Sanghvi, Group Founder & CEO, Good Glamm Group, says, “Entering the Unicorn Club marks Day 1 for all of us at the Good Glamm Group. And we couldn’t be more excited and privileged to embark on the journey from 1 to 10, with Prosus and Warburg, who bring incredible strength and experience to our company. (sic)”