What is MYGLAMM?
MYGLAMM is an online makeup brand established in 2017 and headquartered in Maharashtra, India. The company provides users with on-demand access to a wide range of makeup products. MYGLAMM operates within the rapidly expanding Indian e-commerce beauty market, aiming to disrupt traditional retail models through its digital-first approach and focus on user accessibility. The company's business model is designed to cater to the evolving preferences of modern consumers seeking convenience and a curated selection of beauty items.
How much funding has MYGLAMM raised?
MYGLAMM has raised a total of $238.7M across 6 funding rounds:
Angel/Seed
$2M
Series A
$6M
Unspecified
$5.4M
Series B
$4.3M
Series C
$71M
Series D
$150M
Angel/Seed (2015): $2M with participation from Tano Capital
Series A (2016): $6M led by L'Occitane en Provence, Tano Capital, and Brand Capital
Unspecified (2017): $5.4M supported by L'Occitane
Series B (2020): $4.4M, investors not publicly disclosed
Series C (2021): $71M backed by Wipro Consumer Care Sdn. Bhd, Ascent Media Group LLC, Amazon, and Accel
Series D (2021): $150M with participation from L'Occitane, Prosus, Bessemer Venture Partners, Amazon, Ascent Capital Group, Alteria Capital, Warburg Pincus, and Mankekar Family Office
Key Investors in MYGLAMM
Amazon
Amazon is a global e-commerce and cloud computing giant, known for its extensive retail platform and diverse investments across various sectors. Their participation suggests a strategic interest in the direct-to-consumer and beauty e-commerce space.
L'Occitane
L'Occitane is a globally recognized premium skincare and cosmetics brand. Their investment in MYGLAMM indicates a strategic alignment with innovative beauty brands and a potential interest in expanding their reach within the Indian market.
Prosus
Prosus is a global consumer internet group and a significant technology investor, focusing on high-growth markets. Their backing of MYGLAMM highlights the company's potential for substantial growth and market leadership in the digital consumer space.
What's next for MYGLAMM?
With the recent infusion of capital, MYGLAMM is poised for significant scaling and market penetration. The strategic investment suggests a focus on expanding its product portfolio, enhancing its technological infrastructure, and potentially exploring new geographic markets. The company's ability to attract major backers like Amazon and L'Occitane indicates strong investor confidence in its business strategy and future prospects. Future developments may include further product innovation, strategic partnerships, and an increased emphasis on digital marketing to solidify its brand presence and customer base.
See full MYGLAMM company page
