Home Beauty & Wellness Nykaa raises Rs 100 crore from Steadview Capital

Nykaa raises Rs 100 crore from Steadview Capital

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, an omnichannel retailer, on Tuesday said it has raised Rs 100 crore from at an undisclosed valuation.
Steadview is already an investor in the company started by , an investment banker turned entrepreneur.

Nykaa raises Rs 100 crore from Steadview Capital

According to a PTI report: This is a primary investment by Steadview in the nearly eight year-old venture and comes amid concerns over economic growth following the full lockdown in India due to the COVID-19 pandemic.

“In the midst of this unprecedented global crisis, we are working to ensure all our stakeholders are well served and that Nykaa emerges as a leading retail player in the industry,” Nayyar was quoted by PTI as saying.

“We believe the company is poised for a strong growth trajectory in the years to come. The company”s focus on customer service and capital efficiency stands out in the Indian e-commerce space,” , Founder and Chief Investment Officer was quoted by PTI as saying.