Weekly Rundown: Purplle, Good Glamm beef up magnificence play with acquisitions, Norwest closes $Three bn fund
Purple and Good Glamm made acquisitions this week to expand their position in the fast growing online beauty and personal care segment.
The content-to-commerce unicorn Good Glamm Group took over MissMalini Entertainment as part of its first personality-oriented brand acquisition.
With the ambitious goal of creating the largest body and beauty care group in South Asia, the Mumbai-based company has so far united seven brands under one roof.
The deal, which is one of the company’s largest purchases, is a stock-cash-mix transaction. MissMalini, which was started as a lifestyle blog in 2008, is today for 60 million users under the umbrella of the girl community app (Girl Tribe), MissMalini Media (influencer and content marketing), Ignite Edge (talent management) and Agent M Creative accessible. (Creative agency).
Also read: Purple Acquires FACES CANADA to Boost Its Makeup Presence
Also, Miss Malini’s Bollywood reach is one of the most important aspects of the group’s takeover by the Good Glamm Group.
Purple has acquired the cosmetics and skin care brand FACES CANADA. The brand will join Purplle’s cohort of own and acquired beauty brands including Good Vibes, Carmesi and NYbae.
With its products, which are available in Asian, European and North American markets, FACES CANADA expands Purplle’s consumer range and offers it an international make-up portfolio.
Purple claims to have a catalog of 1,000+ brands and 50,000 offerings in a variety of categories including makeup, skin care, hair care, personal care, fragrances, and toiletries.
Meanwhile, education infrastructure startup Teachmint made its first acquisition this week when it bought the course selling platform Teachmore in the form of a cash and stock deal.
Teachmore enables teachers to sell educational products such as online courses, live classes, quizzes and more through their own apps and websites. The deal comes just over a month after the company raised $ 78 million in its Series B funding round.
Multi-tier investment firm Norwest Venture Partners has closed a new $ 3 billion fund, bringing its total assets under management to $ 12.5 billion. The company said it will continue to take a tiered, cross-industry approach to investing in startups in the consumer, corporate and healthcare sectors.
Also read: Good Glamm Group acquires MissMalini Entertainment as part of its first personality-driven brand acquisition
The fund invests worldwide with offices in North America, India and Israel. Its India portfolio includes Swiggy, Mensa Brands, Pepperfry, OfBusiness and Xpressbees.
Revenue Based Financing (RBF) platform Klub announced the first close of its new fund Aceler8 at Rs 200 billion.
The fund will support consumer and SaaS businesses for their marketing, inventory and capital expenditures.
ShareChat, the parent company of Moj’s parent social networking and short video content app, topped the funding charts this week. The company raised $ 266 million on its Series G round at a valuation of $ 3.7 billion.
The investment was led by Alkeon Capital with the participation of new and existing investors such as Temasek, Moore Strategic Ventures (MSV), Harbourvest and India Quotient. This is the third round of funding for the startup in 2021.
Healthtech unicorn Innovacer secured US $ 150 million in a Series E financing round, tripling its valuation to US $ 3.2 billion.
The financing round was led by Mubadala Capital and also included participation from existing investors B Capital Group, Microsoft’s M12 Fund, OMERS Growth Equity, Dragoneer, Steadview Capital, Tiger Global Management and the new investors Whale Rock Capital Management, Avidity Partners and strategic advisors from Schönfeld.
The San Francisco-based company had entered the Unicorn Club earlier this year with a value of $ 1.3 billion.
The fintech companies Uni and JusPay, SaaS from Hevo Data and the dialysis chain NephroPlus also carried out extensive risk capital reviews this week.