Weekly Rundown: Purplle, Good Glamm beef up beauty play with acquisitions, Norwest closes $3 bn fund

Purplle and Good Glamm have made acquisitions this week as they search to additional their positions within the fast-growing on-line beauty and private care phase. 

Content-to-commerce unicorn Good Glamm Group acquired MissMalini Entertainment in its first personality-driven model acquisition. 

With an formidable purpose of making South Asia’s greatest private and beauty care conglomerate, the Mumbai-based firm has to this point added seven manufacturers below its umbrella.  

The deal, which is without doubt one of the largest buys by the corporate, is a stock-cash combine transaction. MissMalini, which began as a life-style weblog in 2008, is now accessible to 60 million customers with an umbrella of woman neighborhood app (Girl Tribe), MissMalini Media (influencer and content material advertising), Ignite Edge (expertise administration), and Agent M Creative (inventive company). 

Also Read: Purplle acquires FACES CANADA to strengthen its make-up footprint

Besides, MissMalini’s Bollywood outreach is without doubt one of the most important points of the group’s acquisition by the Good Glamm Group.

Purplle has snapped up cosmetics and skincare model FACES CANADA. The model will be a part of Purplle’s cohort of owned and bought beauty manufacturers together with Good Vibes, Carmesi, and NYbae. 

With its merchandise out there throughout Asian, European, and North American markets, FACES CANADA expands Purplle’s shopper choices and affords it a world make-up portfolio. 

Purplle claims to have a listing with greater than 1,000 manufacturers and 50,000 choices, throughout classes together with, make-up, skincare, haircare, private care, fragrances, and grooming home equipment. 

Meanwhile, schooling infrastructure start-up Teachmint made its first acquisition this week because it purchased course-selling platform Teachmore in a money and inventory deal. 

Teachmore permits academics promote instructional merchandise like on-line programs, stay lessons, quizzes and extra by means of their very own apps and web sites. The deal comes slightly over a month after the corporate raised $78 million in its Series B spherical of funding. 

Multi-stage funding agency Norwest Venture Partners closed a brand new fund at $3 billion, bringing its whole capital below administration to $12.5 billion. The firm stated it is going to proceed to make use of a multi-stage, multi-sector method to investing in startups throughout shopper, enterprise and healthcare sectors. 

Also Read: Good Glamm Group acquires MissMalini Entertainment in its first personality-driven model acquisition

The fund invests globally, with workplaces in North America, India and Israel. Its India portfolio consists of Swiggy, Mensa Brands, Pepperfry, OfBusiness and Xpressbees.

Revenue Based Financing (RBF) platform Klub introduced the primary shut of its new fund, Aceler8, at Rs 200 crore.

The fund will again shopper and SaaS companies for his or her advertising, stock, and CAPEX spends.  

Homegrown social community platform and short-video content material app Moj’s father or mother, ShareChat led the funding charts this week. It raised $266 million as a part of its Series G spherical at a valuation of $3.7 billion. 

The funding was led by Alkeon Capital with participation from new and current buyers together with Temasek, Moore Strategic Ventures (MSV), Harbourvest and India Quotient. This is the third spherical of funding for the startup in 2021. 

Healthtech unicorn Innovacer secured $150 million in a Series E funding spherical, tripling its valuation to $3.2 billion.

The funding spherical was led by the Mubadala Capital, and in addition noticed participation from current buyers B Capital Group, Microsoft’s M12 fund, OMERS Growth Equity, Dragoneer, Steadview Capital, Tiger Global Management, and new buyers Whale Rock Capital Management, Avidity Partners, and Schonfeld Strategic Advisors. 

The San Francisco-based firm had entered the unicorn membership earlier this 12 months at a $1.3-billion valuation. Fintech companies Uni and JusPay, SaaS from Hevo Data, and dialysis chain NephroPlus additionally drew vital enterprise capital cheques this week. 

https://www.businesstoday.in/newest/company/story/weekly-rundown-purplle-good-glamm-beef-up-beauty-play-with-acquisitions-norwest-closes-3-bn-fund-316061-2021-12-18

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