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GlobalBees joins unicorn club after $110mn Series B round led by Premji Invest

GlobalBees joins unicorn club after $110mn Series B round

Funding News

GlobalBees joins unicorn club after $110mn Series B round led by Premji Invest

India’s largest Thrasio-style investment venture, GlobalBees has raised over USD 110 million in Series B funding round led by Premji Invest. The financing round also saw the participation of new investor Steadview Capital along with existing ones including SoftBank, FirstCry among others. Trifecta Capital additionally invested $30 million as debt in the new round.

After the latest capital exercise. the New Delhi-headquartered company was valued at USD 1.1 billion thus making it the latest entrant to unicorn club. According to The Economic Times, the company will use the fund to strengthen its product portfolio and further product innovation, improve customer experience, hiring talent and scaling companies.

“We have a deep purpose to build meaningful products across industries that address unique consumer needs. With this investment, we are well set up to become India’s largest brand platform. We are an august company of exceptional founders who have built great companies online. With this infusion of capital, we can work together to take these companies global,” said Nitin Agarwal, CEO of GlobalBees in the statement.

GlobalBees currently has a brand portfolio of eight companies, and claims to be in talks with 20 other digital first brands.

Earlier in July, the company raised USD 150 million (about Rs 1,123 crore) in a mix of equity and debt in Series A round.

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At that time, the company had said it would create a ”house of brands” across categories like beauty, personal care, home, kitchen, food, nutrition, sports and lifestyle.

Thrasio is a digital consumer goods company that acquires third-party private label Amazon FBA (Fulfillment by Amazon) businesses and direct-to-consumer e-commerce brands.



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