Good Glamm Group Enters Unicorn Club, Raises $ 150 Million in Series D Funding

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Commerce content conglomerate Good Glamm Group said on Tuesday it had raised $ 150 million in funding as part of its Series D cycle, comprising both primary and secondary sales.

Co-led by renowned tech and private equity investors Prosus Ventures (Naspers) and Warburg Pincus, Alteria Capital and existing investors L’Occitane, Bessemer Venture Partners, Amazon, Ascent Capital and the Mankekar Family Office also participated around the table.

With this fundraiser, the Good Glamm Group is now valued at $ 1.2 billion and the company claims to be the first Indian beauty and personal care company DTC to achieve unicorn status.

Darpan Sanghvi, Group Founder and CEO of Good Glamm Group, said: “Entering the Unicorn Club marks the first day for all of us at the Good Glamm Group. And we couldn’t be more excited and privileged to embark on the 1 to 10 journey, with Prosus and Warburg bringing incredible strength and experience to our business.

The company will use the fund to invest in product development, support data science and technology research, increase offline expansion, finance working capital requirements while expanding content creation capabilities and digital reach. by POPxo, Plixxo, BabyChakra and ScoopWhoop.

The group will continue to invest in more brands of beauty and personal care products.

Speaking about the investment, Vishal Mahadevia, Managing Director and Head of India at Warburg Pincus, said: “We are delighted to support Darpan and the entire Good Glam Group team. With a strong portfolio of D2C brands and exclusive content assets, the group is well positioned to scale rapidly and build a large digital company in the beauty and personal care space.

India investment manager Prosus Ventures Ashutosh Sharma said this was the company’s first investment in the DTC category.

Established in September 2021, the Good Glamm Group comprises a portfolio of proprietary beauty and personal care brands that leverage a proprietary digital ecosystem of content, community and creator assets.

Beauty and personal care brands belonging to the Good Glamm group include MyGlamm (cosmetics brand), MomsCo (premium brand for moms and babies), POPxo (brand of cosmetics for tweens) and Baby Chakra (brand of baby products. co-created with mothers). These brands rely on the group’s proprietary digital assets, which include POPxo (female content platform with 88 million users), ScoopWhoop (male content platform with 100 million users), BabyChakra (parental platform with 20 million mothers and a network of 10,000 doctors) and Plixxo (management platform for creators and influencers with 220,000 integrated influencers).

Co-Founder Priyanka Gill said being part of the Good Glamm Group is a dream opportunity and a privilege as it becomes DTC’s largest beauty and personal care company in India. “Now, with Prosus Ventures and Warburg Pincus as investors and partners, we are perfectly positioned to scale even faster and fulfill our mission,” she said.

The company’s digital reach, combined with more than 30,000 offline points of sale from the group’s flagship beauty brand, MyGlamm, offers all brands in the Good Glamm Group an unprecedented opportunity to grow both in online and offline, further amplified by DTC’s deep growth expertise. , new product development and technology and data science. The Good Glamm Group has already made acquisitions and investments worth $ 270 million to date.

Consumer needs are at the heart of all the work of the Good Glamm Group, and it is a privilege to build with Prosus Ventures and Warburg who are strong, mission-aligned partners, said co-founder Naiyya Saggi.

According to Saggi, the partnership demonstrates the belief in the group’s vision to bring together under one roof, trusted brands, passionate founders and motivated teams to ensure the best care throughout the consumer lifecycle.

Prosus Ventures claims that the Good Glamm Group ‘voucher’ underscores its commitment to inclusive beauty and clean, vegan and eco-friendly, cruelty-free beauty products. With its content-to-commerce approach to democratize access to beauty products and advice and its vision of becoming the “world’s leading digital consumer goods conglomerate of the future”, the Good Glamm group has created a product portfolio ranging from makeup, skin care, hair care, personal care, hygiene to baby care.

(Edited by : Kanishka Sarkar)

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