Glamplus Secures INR 16.5 Crores in Pre-Series A Funding to Fuel B2B Expansion

• ByStartupStory     |    January 10, 2024

SaaS-enabled B2B Beauty Marketplace, Glamplus, has successfully raised approximately INR 16.5 Crores in a pre-Series A funding round. The investment was led by Upsparks Capital, Eagle10 Ventures, ITI Growth Opportunities Fund, and Inflection Point Ventures. Kube VC, Gopal Krishna Varshney, IR Capital Partners, and other esteemed investors also participated in the funding round.

Glamplus specializes in providing innovative solutions to salons, spas, and retail beauty chains, enabling them to enhance operational efficiency through technology adoption. The funds raised will be directed towards B2B expansion in Tier I and Tier II cities, as well as venturing into international markets.

Rohan Singh, Chief Operating Officer at Glamplus, expressed confidence in the company’s path to profitability, stating, “We are on a path to profitability by Q1 2024 by creating an impact and reaching small businesses like salons and beauty stores, where they can avail higher fulfillment, faster deliveries, and better pricing due to optimized supply chain with no middlemen. Our focus is also on providing quality, genuine professional products. We are also optimizing our product supply & delivery experience.”

Glamplus, currently operational in Karnataka, Chhattisgarh, and Odisha, serves clients ranging from salons to small and medium-sized beauty stores. The company has recently launched a centralized warehouse to facilitate faster order processing, inventory management, and fulfillment, minimizing shipping times and costs while ensuring quicker delivery to customers.

Mohit Gulati, Managing General Partner at ITI Growth Opportunities Fund, highlighted Glamplus’s early mover advantage, stating, “Being an early mover in the industry, Glamplus has helped automate salon workflow and minimize unorganized inventory procurement by providing better rates and quick delivery time.” He further emphasized the growth potential in the Beauty, Personal Care (BPC) market in India, projected to reach $38.0 billion by 2028.

Glamplus has pivoted into the digital B2B beauty marketplace and currently lists over 2000 SKUs, registering a 12% annual growth. With a lean team of over 30 members, Glamplus has built a user base of more than 9500 beauty customer clients and over 6 lakh B2C customers.

About Glamplus:

Glamplus, headquartered in Bengaluru, is a SaaS-enabled B2B Beauty Marketplace offering a one-stop beauty solution in the $200 billion economy of Salons, Spas, and Gyms in the APAC market. Founded in 2020, Glamplus has been a leader in the beauty and wellness space, redefining industry standards worldwide.

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