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MyGlamm joins Unicorn with $150 million

by Professional Beauty India

The Good Glamm Group, the parent firm of direct-to-consumer (D2C) beauty brand MyGlamm, is the latest Indian start-up to join the unicorn club. It has raised USD 150 million in its Series D financing round from Prosus Ventures and Warburg Pincus. The announcement has come at a time when MyGlamm was aggressively acquiring brands to broaden its offerings.

The start-up has spent about USD 270 million in equity and cash in recent months to buy a number of firms that fit with the start-up’s vision. After acquiring D2C mother and baby care brand The Moms Co for over USD 65 million, the brand is finalising talks to acquire another four brands that it expected to close by the end of this year. A number of D2C brands, especially in beauty and wellbeing spaces, have made significant inroads in recent years. Much of this credit goes to Nykaa for paving the way.

The fashion commerce firm, whose IPO was subscribed over 80 times, will begin trading on local Indian exchanges on Wednesday and is expected to see more than a 50 per cent bump in its final issue price.

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