Nykaa raised Rs 1.6 billion through primary and secondary share sale with the participation of existing investors earlier this year.
The beauty retailer achieved revenues of Rs 5.7 million in FY18 and has been EBITDA positive for two quarters in a row. Nykaa will now look to expand its portfolio with the launch of exclusive brand partnerships and increase its offline footprint to 90 stores across India by 2020.
"We are excited to welcome Lighthouse to our shareholder base as we launch into our next phase of growth. We believe they will bring to bear their expertise in the retail sector propelling Nykaa to even greater heights. Over the past six years, our customers have come to trust brand Nykaa with our focus on bringing the best products, content and shopping convenience together. As we add new verticals and product categories we will continue to build on meaningful experiences that engage and delight our customers," shared Falguni Nayar, founder & CEO, Nykaa.com.
Sean Sovak, co-founder of Lighthouse said, "We are truly thrilled to become a shareholder in Nykaa. What Falguni and team have created is nothing short of brilliant, completely disrupting the personal care market in India, by focusing on ease of access and superior customer experience. We are excited by the opportunity ahead for the company."
This transaction earmarks the attractive exit for TVS Shriram Growth Fund, which invested in Nykaa in 2015 and 2016 as part of the Series B and Series C fund raise.