MyGlamm turns Good Glamm Group. Here’s all you need to know
, which has been rebranded as the Good Glamm Group, recently closed its Series C funding of Rs 355 crore from Accel Partners, and has raised a top-up of another Rs 255 crore from Trifecta Capital.
Including the Rs 610 crore raised in the latest series, the IPO-bound group is looking to deploy Rs 750 crore into its consolidated business — MyGlamm, POPxo, Plixxo, and BabyChakra — to build one of the largest content commerce platforms that focuses on the journey of women.
It is using content, community, and commerce to build a strong network of women consumers, and will be investing Rs 450 crore into acquiring companies that align to the three verticals of beauty and personal care, content and influencer marketing, and baby and parent care.
“We are making strategic investments in companies that we feel fit within our group’s vision that fill missing gaps in categories that we want to play in,” Darpan Sanghvi, Co-founder and Group CEO, Good Glamm Group.
The brand has a revenue run rate of $100 million and is targeting a $250 million run rate by March 2022. It said it is targeting Rs 500 crore revenue run rate for baby care products in the next three years.
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News & Updates
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- Social interactive gaming platform WinZO announced the third edition of its Game Developer Fund (GDF) with the largest ever corpus of $20 million. The development comes six months after the gaming startup raised Series C funding of $65 million.
- AI power analytics startup PredictiVu has announced it is raising $1.5 million in a Pre-Seed funding round led by Market Xcel Data Matrix, backed by Nomura Research Institute (Japan) and Infobridge Asia (Japan).
- Feminine hygiene brand Sanfe announced that it has raised a fresh Series A round of $1 million. The participants in the investment round include LetsVenture, Ajay Garg, Tarun Sharma (mCaffeine), Arjun Vaidya, and Dhimant Parekh among other D2C founders.
- Khadi and Village Industries Commission (KVIC) has set up the first-ever Tussar silk yarn production centre in Cuttack district, Odisha. The silk yarn production centre will ensure local availability of Tussar silk yarn, create local employment, and reduce production costs.
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“The time is ripe for someone who is growing rapidly and has a healthy top line to build a digital CPG brand.”