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Good Glamm Group bags $150 mn funding from Prosus Ventures, Warburg Pincus, others

Good Glamm Group raises $150 mn in funding from Prosus Ventures, Warburg Pincus, others

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Good Glamm Group bags $150 mn funding from Prosus Ventures, Warburg Pincus, others

Good Glamm Group, a content-to-commerce conglomerate, on Tuesday said it has raised USD 150 million (about Rs 1,112 crore) in funding, co-led by Prosus Ventures (Naspers) and Warburg Pincus. The Series-D round, which included both primary and secondary sales, also saw participation from Alteria Capital and existing investors L’Occitane, Bessemer Venture Partners, Amazon, Ascent Capital and the Mankekar Family Office, a statement said.

Entering the Unicorn Club marks Day 1 for all of us at the Good Glamm Group. And we couldn’t be more excited and privileged to embark on the journey from 1 to 10, with Prosus and Warburg, who bring incredible strength and experience to our company, Good Glamm Group’s founder and CEO Darpan Sanghvi said. Good Glamm Group will be utilising its latest funding to invest in product development, support data science and technology research, increase offline expansion, fund working capital requirements while also expanding the content creation capabilities and digital reach of POPxo, Plixxo, BabyChakra and ScoopWhoop, the statement said.

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The group will also continue to make investments in more beauty and personal care brands, it added. Good Glamm Group comprises a portfolio of proprietary beauty and personal care brands that are powered by a proprietary digital ecosystem of content, community and creator assets. Beauty and personal care brands owned by the Good Glamm Group include MyGlamm (India’s fastest-growing cosmetics brand), MomsCo (India’s leading premium mom and baby brand), POPxo (India’s first brand of cosmetics for tweens) and Baby Chakra (India’s first baby products brand co-created with mothers), the statement said.

These brands leverage the group’s proprietary digital assets, which comprises POPxo (female content platform with 88 million users), ScoopWhoop (male content platform with 100 million users), BabyChakra (parenting platform with 20 million mothers and a network of 10,000 doctors) and Plixxo (India’s leading creator and influencer management platform with 2.2 lakh influencers onboarded). It has already made acquisitions and investments worth USD 270 million to date.

Being part of Good Glamm Group is a dream opportunity and a privilege as we become India’s largest DTC beauty and personal care company. Now with Prosus Ventures and Warburg Pincus as our investors and partners, we are perfectly positioned to scale even faster and fulfil our mission, Priyanka Gill, co-founder of Good Glamm Group, said. This partnership demonstrates conviction in Good Glamm Group’s vision to bring under one roof, trusted brands, passionate founders and teams are driven to ensure the best care across consumer’s lifecycle, Good Glamm Group co-founder Naiyya Saggi said.



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