Exclusive: Beauty e-tailer Nykaa raises $14 million from TPG Growth; valuation jumps over $700 million
31 March 2019 12:00 AM IST
Hero Enterprises' Sunil Kant Munjal-backed omnichannel retailer of beauty and wellness products Nykaa has raised $14 million (Rs 100 crore) from the middle market and growth equity fund TPG Growth in the latest round of funding.
- TPG Growth's investment gives it a spectacular jump in the post-money valuation of Rs 5027 crore ($724 million).
- Apart from Sunil Kant Munjal who invested Rs 30 crore in 2016 in the startup, its other backers include TVS Shriram Growth Fund (invested Rs 25 crore in 2015) and a host of angel investors such as corporate lawyer and Founder and Managing Partner of AZB & Partners Zia Mody who put Rs 1 crore in 2014.
- The new round takes the total amount raised by the startup to $107.5 million, as per deals tracker Crunchbase.
- Beauty e-tailer Nykaa raises $14 million from TPG Growth; valuation jumps over $700 million
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