Multi brand e-commerce beauty retailer Nykaa.com has raised Rs 82 crore in a funding by Sunil Munjal and the Mariwala family at a valuation of about Rs 775 crore, as reported by ET.
This act of fundraising aims in amalgamating interest from well-off Indian families in the new age internet business.
In October 2015, Nykaa has witnessed Series C round of funding by multiple investors TVS Capital, Marico Founder Harsh Mariwala; Hexaware Founder Atul Nishar; Dalip Pathak, former India and Europe Head of Warburg Pincus along with Michael Carlos, former President of Swiss fragrance maker Givaudan.
Founded in the year 2013, Nykaa is headed by Falguni Nayar, former MD of Kotak Mahindra Capital Investment Banking and her husband Sanjay Nayar, CEO and India head of US buyout mega KKR & Co.
With currently four operating outlets in Delhi, Mumbai and Bangalore, the company plans to utilize the newly raised fund to expand its operations and add more brands under its label. The company also plans to spread its wings offline by opening retail stores across the country. The luxurious beauty platform sells 400 brands and 35,000 products across a wide range of categories along with introduction of private labeled products.