PE Fund Investments
Sugar Cosmetics to raise $4.5 M from Anicut, Elevation, Malabar
Mumbai-based D2C (direct-to-consumer) brand Sugar Cosmetics is to raise INR 38 crore (USD 4.5 million) from its existing investors Anicut Equity Continuum Fund, Elevation Capital, Malabar Investment and L Catterton, at a valuation of INR 2,600-2,700 crore The funds will be used to scale Quench Botanics, a Korean Skincare brand it launched last year with Kareena Kapoor.Founded in 2015 by husband-wife duo of Vineeta Singh and Kaushik Mukherjee, Sugar Cosmetics claims to have a presence in over 45,000 retail stores across India.
Between Jul 2013 and May 2022, Sugar Cosmetics had raised about USD 88.09 M from A91 Partners, Elevation Capital, India Quotient, L Capital Asia, RB Investments, Stride Ventures and Anicut Capital..For FY24, Sugar Cosmetics had reported about INR 505.10 Cr in Operating Income and about INR 67.59 Cr in PAT.
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