Good Glamm Group turns unicorn in series D round

Content to commerce conglomerate the Good Glamm Group has raised $150 million in its Series D round of funding from Prosus Ventures, Warburg Pincus and Alteria Capital. The round also saw participation from its existing investors L'Occitane, Bessemer Venture Partners, Amazon, Ascent Capital and the Mankekar Family Office.

With this round, Good Glamm Group, enters into the much coveted unicorn club becoming the 35th unicorn of the year. It will utilise this funding for product development, technology research and offline expansion. It will also continue to make investments in more beauty and personal care brands.

"This funding will ensure that across all the acquisitions we make, we are able to invest correctly," Darpan Sanghvi, Group Founder and CEO, Good Glamm Group, told Moneycontrol in an interaction.

According to Sanghvi, this funding is more like a war chest for the group. In September, the direct-to-consumer brand MyGlamm set up The Good Glamm Group, consolidating all its businesses — MyGlamm, POPxo and BabyChakra — under one umbrella and aspiring to buy more beauty brands with a budget of Rs 2,000 crore.

The group, which has already made two acquisitions, plans to do four more before the year ends. These are likely to include some mens' personal care brands. In October, it announced the acquisition of Moms Co.