The Good Glamm Group Raises $30 Million in Bridge Round
Within 99 words: Delhi-based content-to-commerce company The Good Glamm Group secures Rs 245.5 crore (approximately $30 million) in a bridge round from existing investors via a right issue. This marks the first significant funding since its Series D round in November 2021. Led by Warburg Pincus and Prosus, the round also saw participation from Bessemer India and Accel Partners. The funds will be utilized for working capital requirements and company activities. Despite previous anticipation of a decreased valuation, The Good Glamm Group maintains its valuation at around $1.26 billion. Founded by Darpan Sanghvi, Priyanka Gill, and Naiyya Saggi, the company operates a portfolio of direct-to-consumer beauty and personal care brands.
Key Points:
- The Good Glamm Group raises $30 million in a bridge round from existing investors.
- Funds sourced through a right issue to meet working capital requirements.
- Led by Warburg Pincus and Prosus, with participation from Bessemer India and Accel Partners.
- Valuation remains at around $1.26 billion post-tranche.
- Company operates a portfolio of direct-to-consumer beauty and personal care brands.
- Financial results for FY23 yet to be filed; FY22 revenue surpasses Rs 250 crore with a 5X year-on-year surge.
- L’Occitane International was the largest external stakeholder before the bridge round.
- Founded by Darpan Sanghvi, Priyanka Gill, and Naiyya Saggi.
- The company anticipates raising more funds in this round.
- For detailed shareholding information, visit TheKredible.