[Funding alert] MyGlamm names Shraddha Kapoor as brand ambassador and investing partner
Mumbai-based D2C beauty and personal care brand MyGlamm has appointed actress Shraddha Kapoor as its brand ambassador. The actor has also invested an undisclosed amount in the company.
Founded in 2017 by Darpan Sanghvi and co-founded by Priyanka Gill, MyGlamm claims to offer a range of 600+ cruelty-free products across makeup, skincare, and personal care. While it is digital-first, the startup also has over 10,000 offline points of sales across 70 cities in India.
Darpan Sanghvi, Founder and CEO, MyGlamm, said,
“We have always admired Shraddha for her clean beauty and cruelty free philosophy and how she connects and resonates with her over 60 million Instagram followers. At MyGlamm, we are building great products by connecting with our consumers digitally and understanding what they want. We are excited to welcome Shraddha as an investor in MyGlamm and join us on this journey of creating India’s largest beauty company leveraging content, community and commerce.”
Priyanka Gill, Co-founder and President, MyGlamm, added,
“Shraddha is the ultimate girl-next-door. Not only is she a brilliant actor, she is also someone millions of women love and instantly relate to. Welcoming her on board as an investor in MyGlamm is very exciting and we look forward to partnering with Shradha to make the beauty journey of our users and her fans even more effective and meaningful.”
MyGlamm embraces the philosophy of building a community with its users, engaging with them, and eventually co-creating products with them. In a statement, the brand said incorporating customer feedback and wants in their product formulations is what attracted actor Shraddha Kapoor to invest in the company.
She commented, “I’m really excited to be the face of MyGlamm and also have the opportunity to invest in it. The DTC beauty market is growing rapidly and I believe it is the future. Through MyGlamm I hope to understand and fulfil the beauty needs of my fans and followers.”
The startup uses a combination of technology, content and social media to allow consumers to not only discover its products but also create a rich, personalised content and a post-purchase experience using tutorials through its app. Other investors include L’Occitane, Bessemer Venture Partners, Amazon, Ascent Capital, Wipro, the Mankekar family, and Tano Capital.
Female content platform POPxo and Plixxo, an influencer management platform, are part of the MyGlamm group. The MyGlamm-POPxo-Plixxo combine, claims to be the largest 'Content to Community to Commerce' platform in India, with 88 million annual female users, having 1.5 billion annual video views, and 150,000 influencers onboarded.