Good Glamm Group secures $30 million in funding at flat valuation, seeks more

Beauty products and content company Good Glamm Group has raised $30 million through a rights issue at a flat valuation of $1.2 billion from existing investors, including Warburg Pincus. The funds will be used for working capital requirements. Prosus, Bessemer Venture Partners, and Accel Partners were among the other investors who participated in the funding round. The firm is now talking to external investors to raise another $35-40 million at the same valuation. Good Glamm's founder and CEO, Darpan Singhvi, aims to close FY24 with revenue of Rs 1,000 crore. The company had raised $135 million before this latest round of funding and was on an acquisition spree earlier. Priyanka Gill, the firm's co-founder, stepped down from an active role to join Kalaari Capital as a venture partner.