News Update
Content to commerce platform Good Glam Group turns unicorn
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ByStartupStory | November 10, 2021
The beauty brand, Good Glam Group has joined the much coveted unicorn club post its Series D round of funding, thus becoming the 35th unicorn of the year.
The company raised $150 million in its series D round of funding led by Prosus Ventures, Warburg Pincus and Alteria Capital. The round also saw participation from its existing investors L’Occitane, Bessemer Venture Partners, Amazon, Ascent Capital and the Mankekar Family Office.
The e-commerce startup aims to utilize the funds infused for technology research, product development and offline expansion. It also intends to acquire more beauty and personal care brands with the funds.
The Good Glam Group is a collection of beauty brands My Glamm, POPxo, BabyChakra and Moms Co. The group has over 30,000 retail points and an audience base of 150 million. Furthermore, the startup has a strong presence in the digital space as it connects more than 220000 content creators and registers transactions up to 3.2 million per month.
“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,” said Vishal Mahadevia, Managing Director and India Head at Warburg Pincus.
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