MyGlamm

With a Rs 750-crore war chest, the Good Glamm Group will also make strategic investments in innovative beauty and personal care brands

MyGlamm on Tuesday said it has raised Rs 355 crore in fresh funding from Accel, along with participation from existing investors, taking the total funds raised in this round to Rs 530 crore

The top-up was led by marquee global venture capital firm Accel along with existing investors

The company, which saw investors pull out of a fund raise as the pandemic struck, is now eyeing an annual revenue run rate of Rs 600 cr by this December

Quantum of investment not revealed; Founded in 2017, MyGlamm offers a range of over 600 cruelty-free products across makeup, skincare and personal care

Growth at brands like Nykaa, MyGlamm, Sugar Cosmetics and Beardo has picked up, with recovery being stronger going into 2021

With the Series C round, beauty brand MyGlamm becomes the fastest beauty brand to cross the $100 million valuation mark in just three years of launch.

While both brands will retain their identities, investors of POPxo, including Chiratae Ventures, Kalaari Capital, and Neoplux Venture Capital, will also join MyGlamm investors

L'Occitane International S.A., Tano Capital, and Brand Capital of the Times of India Group infuse funds in the firm