The Good Glamm Group will be utilising its latest funding to invest in product development, support data science and technology research, increase offline expansion, fund working capital requirements
Content-to-commerce conglomerate The Good Glamm Group has raised $150 million funding in its Series D round, including both primary and secondary sales, 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. With the fund raise, The Good Glamm Group now has a valuation of $1.2 billion.
The Good Glamm Group will be utilising its latest funding to invest in product development, support data science and technology research, increase offline expansion, fund working capital requirements while also expanding the content creation capabilities and digital reach of POPxo, Plixxo, BabyChakra and ScoopWhoop. The Group will also continue to make investments in more beauty and personal care brands.
“Entering the Unicorn Club marks Day 1 for all of us at the Good Glamm Group. And we couldn’t be more excited and privileged to embark on the journey from 1 to 10, with Prosus and Warburg, who bring incredible strength and experience to our company,” Darpan Sanghvi, group founder and CEO, Good Glamm Group, said.
“Being part of Good Glamm Group is a dream opportunity and a privilege as we become India’s largest DTC beauty and personal care company. Now with Prosus Ventures and Warburg Pincus as our investors and partners we are perfectly positioned to scale even faster and fulfill our mission,” Priyanka Gill, co-founder, Good Glamm Group, added on the new round of funding.
“With a strong portfolio of D2C brands and proprietary content assets, the group is well positioned to scale rapidly and create a large digital-first business in the beauty and personal care space,” Vishal Mahadevia, managing director and India head at Warburg Pincus, stated.
“We are very excited to partner with the Good Glamm Group to disrupt the beauty and personal care industry and this marks our first investment in the DTC category. The Good Glamm team has paired desirable, homegrown brands with compelling content, building an incredibly engaged community and positioning them well for future growth in India and beyond,” Ashutosh Sharma, head of investments, India, Prosus Ventures, said.