MyGlamm has just revealed that it has raised Rs 355 crore in fresh funding from Accel Partners, along with participation from existing investors, taking the total funds raised in this round to Rs
530 crore. This D2C beauty consumer noted that it will utilise the funding to invest in product
development, support data science and technology research, increase offline expansion, fund
working capital requirements and expand content creation capabilities.
MyGlamm had started its series C funding in March this year with a Rs 175 crore investment
from Ascent Capital, Amazon, and Wipro. The series C round has now been closed with an
additional Rs 355 crore being infused, a statement released by the company noted.
The company has raised Rs 650 crore in funding till date.
“We believe that the time is ripe for building out digital first CPG brands with a deep focus on content-to-commerce. COVID has only cemented this belief. The unique combination of
content coupled with a compelling product line gave us the conviction to lead this round in MyGlamm," Anand Daniel, Partner at Accel, said.