Good Glamm becomes 35th Indian unicorn of 2021 after $150-mn fundraise by Warburg Pincus, Prosus Ventures
South Asia's largest content-to-commerce conglomerate, Good Glamm Group entered the unicorn club with a fresh fundraise of US$ 150 million in its Series-D round, involving both primary and secondary sales.
The investment round was co-led by marquee tech and private equity investors Prosus Ventures (Naspers), Warburg Pincus, along with the participation from Alteria Capital and existing investors L'Occitane, Bessemer Venture Partners, Amazon, Ascent Capital and the Mankekar Family Office.
The Good Glamm Group encompasses a portfolio of proprietary beauty and personal care brands driven by a proprietary digital ecosystem of content, community and creator assets.
It include beauty and personal care brands owned by the Good Glamm Group such as MyGlamm MomsCo, POPxo and Baby Chakra.
The company stated it will be exploiting its latest funding to invest in product development, support data science and technology research, grow offline expansion, fund working capital requirements. It will also grow the content creation capabilities and digital reach of POPxo, Plixxo, BabyChakra and ScoopWhoop. The Group will also maintain to make investments in additional beauty and personal care brands.
Mr. Darpan Sanghvi, Group Founder & CEO, Good Glamm Group stated that “Listing in the Unicorn Club marks Day 1 for all of us at the Good Glamm Group. And we couldn't be more enthusiastic and fortunate to embark on the journey from 1 to 10, with Prosus and Warburg, who bring tremendous power and experience to our company.”
Mr. Ashutosh Sharma, Head of Investments, India, Prosus Ventures, stated the collaboration with the Good Glamm Group will ‘disrupt’ the beauty and personal care industry, and this indicates the company's first investment in the DTC category. “The Good Glamm team has combined desirable, homegrown brands with powerful content, building an exceptionally engaged community and aligning them well for future growth in India and beyond.”
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