Good Morning,
MyGlamm, which has been rebranded as the Good Glamm Group, recently closed its Series C funding of Rs 355 crore from Accel Partners, and has raised a top-up of another Rs 255 crore from Trifecta Capital.
Including the Rs 610 crore raised in the latest series, the IPO-bound group is looking to deploy Rs 750 crore into its consolidated business — MyGlamm, POPxo, Plixxo, and BabyChakra — to build one of the largest content commerce platforms that focuses on the journey of women.
It is using content, community, and commerce to build a strong network of women consumers, and will be investing Rs 450 crore into acquiring companies that align to the three verticals of beauty and personal care, content and influencer marketing, and baby and parent care.
“We are making strategic investments in companies that we feel fit within our group’s vision that fill missing gaps in categories that we want to play in,” Darpan Sanghvi, Co-founder and Group CEO, Good Glamm Group.
The brand has a revenue run rate of $100 million and is targeting a $250 million run rate by March 2022. It said it is targeting Rs 500 crore revenue run rate for baby care products in the next three years.
The Interview
The Asia-Pacific region sees $17 trillion worth of payment flows that are yet to be digitised. Zip is a rapidly expanding global fintech player that is simplifying the global payment landscape with fair and seamless payment solutions.
Hamish Moline, MD (Asia and Global Payments), Zip, talks to Arvind Ronta, Head of Products, India & South Asia, Visa, on solving for the multi-trillion-dollar credit opportunity in India.
Editor’s Pick: Techie Tuesday
Dr Sudhir P Srivastava is known not only for his robotic surgeries but also for building robotic surgery products with his Delhi-based company, SS Innovations.
However, because the price of building robotic systems and arms is high, the surgeon decided to bring his design, surgery, and tech experience to build prototypes and make the whole process as less invasive as possible. Read more.
Startup Spotlight
When Amit Nanwani and Diksha Pande noticed that there weren’t any large-scale QSR brands of local snacks, they launched Samosa Party, a startup that aimed to give the humble Indian snack a facelift — using tech.
The brand, which sells 14 varieties of samosas, aims to create a differentiated experience for urban millennial customers who value convenience, hygiene, and quality. Read more.
News & Updates
- According to OYO's Unlocking Travel Report 2021, Goa, Jaipur, Manali, Ooty, and Mysore are top-ranked leisure destinations among domestic travellers. The survey revealed that 37 percent of travellers have a preference for mountains, and 33 percent for beaches in India.
- Social interactive gaming platform WinZO announced the third edition of its Game Developer Fund (GDF) with the largest ever corpus of $20 million. The development comes six months after the gaming startup raised Series C funding of $65 million.
- AI power analytics startup PredictiVu has announced it is raising $1.5 million in a Pre-Seed funding round led by Market Xcel Data Matrix, backed by Nomura Research Institute (Japan) and Infobridge Asia (Japan).
- Feminine hygiene brand Sanfe announced that it has raised a fresh Series A round of $1 million. The participants in the investment round include LetsVenture, Ajay Garg, Tarun Sharma (mCaffeine), Arjun Vaidya, and Dhimant Parekh among other D2C founders.
- Khadi and Village Industries Commission (KVIC) has set up the first-ever Tussar silk yarn production centre in Cuttack district, Odisha. The silk yarn production centre will ensure local availability of Tussar silk yarn, create local employment, and reduce production costs.
Before you go, stay inspired with…
“The time is ripe for someone who is growing rapidly and has a healthy top line to build a digital CPG brand.”
— Darpan Sanghvi, Co-founder and Group CEO, Good Glamm Group
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Link : https://yourstory.com/2021/09/myglamm-good-glamm-group-popxo-plixxo-zip-samosa-party
Author :- Team YS ( )
September 28, 2021 at 06:00AM
YourStory