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.