Startup news and updates: daily roundup (September 03, 2022)

YourStory presents the daily news and deals roundup from the Indian startup ecosystem and beyond. Here's the roundup for Saturday, September 03, 2022.
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Ranveer Singh joins SUGAR Cosmetics’ Series D round

Bollywood actor Ranveer Singh has become an investor in the beauty and cosmetic brand, SUGAR Cosmetics, as part of its Series D funding round. The company did not disclose the size of the funding. 

In May 2022, SUGAR Cosmetics raised $50 million as part of its Series D round, led by Asia fund of L Catterton. The round also saw participation from returning investors A91 Partners, Elevation Capital, and India Quotient. 

Founded by Kaushik Mukherjee and Vineeta Singh in 2015, SUGAR started out as a direct-to-consumer (D2C) cosmetic brand which diversified into an omnichannel strategy in 2017. The brand claims to clock annual sales of over Rs 550 crore and has a presence across 45,000 retail touch points

SaaS-led B2B commerce platform Soptle raises angel round

Gurugram-headquartered software-as-a-service (SaaS) platform for business-to-business (B2B) commerce Soptle has raised an undisclosed amount in an angel round led by Soonicorn LLP and a group of marquee investors including Vaishnav Shetty, Executive Director and CDO of Allcargo; Pirojshaw Sarkari, CEO of Gati; former founder of Fitso, Saurabh Agarwal; and others. 

Founded in May 2022 by engineering dropout Pravas Chandragiri, Soptle offers a SaaS-led B2B retail commerce platform to consumer goods companies to distribute its products in a network of 15,000 retailers across the country. The platform currently hosts 400 distributors and 60 manufacturers

(This article will be updated with the latest news throughout the day.)

Edited by Kanishk Singh

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