Content-to-commerce platform Good Glamm Group, South Asia's largest content-to-commerce conglomerate, has entered the unicorn club with a fresh fundraise of $150 million in its Series-D round, including 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 comprises a portfolio of proprietary beauty and personal care brands powered by a proprietary digital ecosystem of content, community and creator assets.
These include beauty and personal care brands owned by the Good Glamm Group -- MyGlamm MomsCo, POPxo and Baby Chakra.
The company said it will be utilising its latest funding to invest in product development, support data science and technology research, increase offline expansion, fund working capital requirements. It will also expand 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 & CEO, Good Glamm Group said.
Ashutosh Sharma, Head of Investments, India, Prosus Ventures, said the partnership with the Good Glamm Group will "disrupt" the beauty and personal care industry, and this marks the company's 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," he said.
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