Glamplus Raises Funding Rs 2Cr By Inflection Point Ventures
- ByStartupStory | May 24, 2021
Salon-focused SaaS platform Glamplus raises funding Rs 2 crore in a pre-Series A round led by Inflection Point Ventures.
Glamplus raises funding to enhance its product and tech capabilities and expand its business. It will also use it to scale to 3,000 partners in the next six months, along with a vertical expansion of its business line.
Glamplus raises funding including other investors, Anil G (Co-Founder and COO, Bounce), Sachin Khandelwal (MD and CEO, Sadhan Enterprise), Sravan Kumar (CEO, Transin), Abhishek Daiya (AVP, Byju’s), and Anudeep Nagalia (VP, Shadowfax) have invested in their personal capacity, a press statement read.
“When we reached out to IPV, with such rich experience in the beauty and wellness segment, they were convinced of the market upside potential and how this segment will evolve further with deep tech SaaS. IPV does not just identify the market sizing with respect to the salon partner ecosystem but also sees an opportunity to uplift the skill sets of the semi-skilled economy.” Speaking about the new development regarding Glamplus raises funding, Divyanshu Singh, Co-founder, Glamplus, said.
Commenting on the investment, Glamplus raises funding Mitesh Shah, Co-founder, Inflection Point Venture, said, “Salons, spas, and gyms form one of the largest portions of our discretionary spends. However, salons run in a highly informal manner, which gives them little insights about their customers, their spending patterns, and the frequency of their visit. Glamplus has identified this opportunity, and it has the potential to help salons and gyms to move from informal to a formal economy and grow their business in the process.”
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