MyGlamm raises Rs 355 crore in funding from Accel, others

Direct-to-consumer beauty brand MyGlamm 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.

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 said.

Accel led the round along with participation from Bessemer Venture Partners, L'Occitane, Ascent, Amazon, Mankekar family, Trifecta, and Strides Ventures, it added.

MyGlamm will utilise its latest funding to invest in product development, support data science and technology research, increase offline expansion, fund working capital requirements and expand content creation capabilities and digital reach of POPxo and Plixxo.

Founded in 2017, by Darpan Sanghvi and co-founded by Priyanka Gill, MyGlamm is a DTC (direct-to -consumer) beauty brand offering a range of over 800 cruelty-free and vegan products across makeup, skincare, and personal-care categories.