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Roll-up e-commerce co GlobalBees in talks to raise $100-M at unicorn valuation

Business Line  

Roll-up e-commerce start-up GlobalBees is in talks to raise USD 100 million at a valuation of more than USD 1 Billion in a round led by FirstCry. SoftBank, Lightspeed India, ChrysCapital, PremjiInvest among other existing investors might also be seen participating in the round. The round will likely see Japanese investment firm SoftBank make its first direct investment of around USD 15 million in a Thrasio-like start-up in India. SoftBank has been an active investor in FirstCry, having a stake of approximately 36-40%. FirstCry owns around 51% in GlobalBees and will be investing nearly USD 50 million in the latest round. GlobalBees has eight brands in its portfolio including The Better Home, andMe, Prolixr, Absorbia, Yellow Chimes and recently announced Healthyhey, Rey Naturals and Intellilens. Earlier in July, three months into its launch, GlobalBees had raised USD 150 million in Series A round led by FirstCry and the other existing investors including Chiratae Ventures. The round was a mix of USD 75 million in debt and USD 75 million in equity.