Other Private Equity/Strategic Investments
Sugar Cosmetics seeks to raise Rs.150-Cr at steep valuation cut
Mumbai-based Sugar Cosmetics is seeking between Rs.100-Cr and Rs.150-Cr to address a cash crunch following a period of declining revenue and aggressive offline expansion. The proposed funding round is expected to occur at a valuation of Rs.1,400-1,500-Cr, reflecting a significant decline from the company’s 2022 valuation of approximately Rs.3,000-Cr.Founded in 2012 by Vineeta Singh and Kaushik Mukherjee, the brand claims to offer cruelty-free beauty products such as foundations, highlighters, concealers, and lipsticks. The company plans to use the new funds to narrow its portfolio and maintain pricing discipline to improve its financials.
Between 2013 and 2025, Sugar Cosmetics had attracted about $ 100-M from A91 Partners, Anicut Capital, Stride Ventures, L Capital Asia, Elevation Capital, India Quotient, Malabar Investments, RB Investments and Verlinvest.For FY25, Sugar Cosmetics had reported about INR 398 Cr in Operating Income and about INR 134 Cr in Net Loss.
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