The Good Glamm Group raises $150 million at $1.2 billion valuation
The Good Glamm Group has raised $150 million funding at a valuation of $1.2 billion in its Series D round led by investors Prosus Ventures and Warburg Pincus. Alteria Capital and existing investors L’Occitane, Bessemer Venture Partners, Amazon, Ascent Capital, the Mankekar Family Office, and Stride Ventures also participated in the funding round.
The Good Glamm Group will utilise the funds in product development, data science, technology research, and offline expansion. The Group will also continue to make strategic investments in top beauty and personal care brands.
Commenting on the investment, Darpan Sanghvi, founder and CEO of the Good Glamm Group, in a statement said: “Entering the Unicorn Club marks Day one 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.”
Vishal Mahadevia, managing director and India Head at Warburg Pincus added: “We are delighted to back Darpan and the entire team at the Good Glam Group. With a strong portfolio of D2C brands and proprietary content assets, the group is well-positioned to scale rapidly and create a large digital-first business in the beauty and personal care space.”
Ashutosh Sharma, head of investments at Prosus Ventures added: “We are very excited to partner with the Good Glamm Group to disrupt the beauty and personal care industry and this marks our first investment in the DTC category.”
The Good Glamm Group owns beauty and personal care brands like MyGlamm, Moms Co, Popxo, and Baby Chakra among others.
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