Samreen Ahmad · · 2 min readGood Glamm Group bags $150m to become India’s next unicorn
India-based Good Glamm Group, the parent company of popular direct-to-consumer (D2C) brand MyGlamm, has raised US$150 million in its series D round co-led by Prosus Ventures and Warburg Pincus.
Alteria Capital and existing investors L’Occitane, Bessemer Venture Partners, Amazon, Ascent Capital, and the Mankekar Family Office also participated in the round.
“The fresh funds take the company’s valuation to US$1.2 billion,” Darpan Sanghvi, group founder and CEO, told Tech in Asia. This gives the startup a ticket into the unicorn club.
In addition to the a primary sale of shares worth US$150 million, the company has also raised US$10 million via a secondary sale of shares.
The Good Glamm Group will be using the funding to invest in product development, technology research, offline expansion, content creation, and digital reach, among other efforts.
Apart from MyGlamm, the group is the umbrella company of women-centric digital community POPxo, influencer marketing platform Plixxo, parenting app BabyChakra, mother-and-baby brand The Moms Co, and content platform ScoopWhoop.
See also: The decade of D2C has just begun in India
The Good Glamm Group will continue with its acquisition spree with plans to acquire about five more firms by the end of the year, Sanghvi said. It has invested US$270 million in acquisitions so far, the latest being the acquisition of ScoopWhoop last month.
Editing by Collin Furtado and Jaclyn Tiu
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