[Funding Alert] The Good Glamm Group Secures $30 Mn in a New Funding Round

The Good Glamm Group was able to raise Rs 245.5 crore, or roughly $30 million, from current investors in a bridge round. Following its Series D funding round in November 2021, this is the company’s first significant infusion.

According to Good Glamm‘s regulatory filing, which was obtained from RoC, the board approved a special resolution to allot 1,832 preference shares at an issue price of Rs 13,40,000 each in order to raise Rs 245.5 crore, or $30 million. The news was first reported by Entrackr.

Prosus contributed Rs 95.73 crore, while Warburg Pincus led the round with Rs 129 crore. Participating with investments of Rs 12.46 crore and Rs 8.31 crore, respectively, were Bessemer India and Accel Partners, among other investors.

In response to the board-approved business plan and as disclosed by the company in its filings, Good Glamm will use these proceeds to fund its operations and working capital needs.

Read also – [Funding Alert] Climatetech Startup BNZ Green Secures $100K in Pre-Seed Round Funding

About Good Glamm Group

The Good Glamm Group is a personal care company dedicated to serving the aspirations of its community, inclusive beauty, and responsible care. A few of the Group’s brands are: – My Glamm, the biggest direct-to-consumer (DTC) makeup brand for South Asian skin tones worldwideSirona Hygiene, a personal hygiene brand It generates 3 billion monthly engagements and reaches 250 million monthly active users.

With 1.5 million influencers and creators as partners, The Good Creator Co is one of the biggest tech-enabled influencer platforms in the world. The Good Glamm Group, the first DTC beauty and personal care brand unicorn in South Asia, was founded in 2021. Prominent American PE/VC firms Warburg Pincus, Bessemer Venture Partners, and Accel are among the investors in the Group. Other investors include Prosus (Naspers), Amazon, and Groupe L’Occitane, a French beauty conglomerate. Its current operation sspan the Middle East, Asia, and North America.

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