Glamplus Secures Fresh Funding To Scale Up Its B2B Beauty Marketplace

Glamplus, a SaaS-enabled B2B beauty marketplace, has raised INR 16.5 Cr (almost $2 Mn) in a pre-Series A funding round from Upsparks Capital, Eagle10 Ventures, ITI Growth Opportunities Fund and Inflection Point Ventures.

The round also saw participation from Kube VC, Gopal Krishna Varshney and IR Capital Partners.

The Bengaluru-based startup plans to use the fresh funds for its B2B expansion in tier I and II cities and to venture into the global markets. 

Founded by Divyanshu Singh in 2020, Glamplus assists small, medium and large salons, spas and retail beauty chains to adopt technology for efficient daily operations. 

It claims to have built a SaaS platform that offers state-of-the-art solutions to its clients to enable them to optimise their efficiency and productivity. It also acts as an omnichannel supplier of beauty products and personal care solutions to the chain of spas aiming for expansion and market entry into beauty product supply in beauty stores and supermarkets. 

“We are on a path to profitability by Q1 24 by creating an impact and reaching small businesses like salon and beauty stores where they can avail higher fulfilment, faster deliveries and better pricing due to optimized supply chain with no middlemen,” said Rohan Singh, chief operating officer, Glamplus. 

Currently, the startup is operational in Karnataka, Chhattisgarh and Odisha, where it caters to clients from salons to small and medium-sized beauty stores. 

Since inception, Glamplus has listed over 2000 stock keeping units (SKUs), witnessing 12% year-on-year growth. Currently, the startup claims to have a base of 9500 beauty customer clients and more than 6 Lakhs B2C customers. 

The space has been gaining a lot of traction from the investors for quite sometime now

Last year in December, online makeup and beauty learning platform Airblack secured $4 Mn (around INR 33 Cr) to meet the working capital needs, general corporate purposes and business expansion.

As per a market study, the Indian beauty and personal care industry is expected to generate a revenue of $31.5 Bn in 2024 and grow at 3% CAGR till 2028.