Private Equity Fund Investments
D2C beauty brand MyGlamm raises Rs.355-Cr from Accel, Bessemer, Strides, others
Mumbai-based direct-to-consumer (D2C) beauty brand MyGlamm has closed a INR 530 crore (about USD 71.21 million) Series C round fundraise backed by a clutch of investors including Accel, Bessemer Venture Partners, Strides Ventures, Trifecta and Wipro. The Series C funding round has been raised in two tranches — the latest INR 355 crore funding led by Accel along with participation from existing investors. It had raised INR 175 crore from Ascent Capital, Amazon and Wipro in March. The firm's valuation stands at over USD 300 million post this round of funding. The firm will use the fresh capital to expand its offline footprint, fund working capital needs and support data science and technology research. A portion of the funds will also be deployed to broaden the content creation capabilities and digital reach of POPxo and Plixxo. MyGlamm acquired women-centric content platform POPxo in August 2020. Influencer marketing platform Plixxo is an affiliate of POPxo.
From the Venture Intelligence PE-VC Deal Database: Between Nov-15 and Mar-21, MyGlamm raised over $48-M from Wipro Ventures, Amazon, Ascent Capital, Bessemer, Tano Capital (fully exited) and others.
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