- Briefing Your roundup of Asian tech and startup news that matter
Deepti Sri · · 1 min readReport: Amazon co-leads $24m round in Indian beauty startup MyGlamm
“Omnichannel direct-to-consumer (D2C) beauty brand MyGlamm has raised US$24 million in its series C funding round led by Ascent Capital, Amazon, and Wipro Consumer,” reported Entrackr.
Details:
- The fresh round of funding has taken the company’s valuation to US$100 million, up from US$70 million in its previous financing round.
- MyGlamm claims that its EBITDA is close to hitting profitability, and plans to increase its “point of sales” network to 25,000 by the end of this year.
Context:
- The development marks the first investment by Amazon in a direct-to-consumer brand.
- Earlier in June 2020, MyGlamm raised 330 million rupees (US$4.5 million) from existing investors. To date, the beauty firm has raised over 3 billion rupees (US$41.3 million) in total.
Editing by Collin Furtado and Jaclyn Tiu
(And yes, we’re serious about ethics and transparency. More information here.)
📅 Upcoming Events
30-31 March 2027
Upskill Fest
