D2C beauty startup MyGlamm raised Rs 175 Cr in Series C funding with investments from Ascent Capital, Amazon, and Wipro Consumer - Ventures. With this funding, MyGlamm crossed the $100 mn valuation milestone within three years of its launch. Make note that this is the first time Amazon has invested in a beauty brand in India.
MyGlamm offers a range of over 600 cruelty-free and vegan products across makeup, skincare, and personal care. While it is digital-first, the startup has more than 10,000 offline points of sales across 70 cities in India. Would utilise the funds to invest in product development, support data science and technology research, increase offline expansion, fund working capital requirements, etc.
“With this fundraiser, we will further invest in enhancing our content and influencer capabilities to not only build out MyGlamm as India’s largest beauty company but also consolidate POPxo as India’s leading digital destination for women, and Plixxo as India’s most engaging influencer platform,” said Priyanka Gill, Co-founder and President, MyGlamm.