SUMMARY
Gill was already part of CXXO, an initiative by Kalaari Capital to support companies led by female founders. She will now lead the initiative
Gill joined Good Glamm after her content community firm, PoPxo, was acquired by it in 2020
Kalaari Capital has been an investor in the Good Glamm Group
Priyanka Gill, the co-founder in the content-to-commerce unicorn The Good Glamm Group, is leaving the company to join the early-stage venture capital firm Kalaari Capital as a venture partner.
Gill joined Good Glamm after her content community firm, PoPxo, was acquired by it in 2020.
Gill was already part of CXXO, an initiative by Kalaari Capital to support companies led by female founders. She will now lead the initiative, the company said in a statement.
Meanwhile, the Good Glamm Group announced that she has been elevated to the board and also as chairperson of Good Media.
Darpan Sanghvi founded D2C brand MyGlamm in 2017, Gill founded digital media platform POPxo in 2013, and Naiyya Saggi founded online parenting startup BabyChakra in 2015. The three brands came together and rebranded as the Good Glamm Group in September 2021. In October 2021, the group added D2C brand The Moms Co. to its portfolio.
It entered the unicorn club by raising $150 Mn in its Series D round in November 2021. The funding round was co-led by Prosus Ventures, Warburg Pincus, along with participation from Alteria Capital and existing investor L’Occitane, Bessemer Ventures, Amazon, among others.
Currently, The Good Glam Group has three verticals – The Good Brands Co, which has a portfolio of D2C beauty and personal care brands, digital content platform The Good Media Co; and tech-enabled influencer platform The Good Creator Co.
“Remaining an integral part of the GoodGlamm Group as group co-founder, Gill will continue to advise on strategic and investment matters while also taking on special oversight as chairperson Good Media Co. Given her wide-ranging experience and a proven track record, her contribution to the Good Glamm Group’s upward trajectory will continue to be pivotal,” the statement said.
“I retain close ties with the Good Glamm Group as Group Co-founder and am confident that as a group we will continue to flourish. This transition allows me to contribute strategically to Good Glamm Group’s vision while dedicating more time towards my passion to support emerging entrepreneurs, particularly women entrepreneurs under the aegis of Kalaari Capital and CXXO,” Gill said.
The company added that Gill’s move to a more strategic role has been part of a planned transition over the last 12 months.
Sanghvi said, “Gill has played an extremely instrumental role at Good Glamm Group. We started the journey of content-to-commerce together in 2020 and have since expanded the company together.
Kalaari Capital has been an investor in the Good Glamm Group.
The unicorn’s Good Media Co vertical counts more than 25 Cr monthly active users (MAUs) and drives 300 Cr engagements every month. The company also has access to more than 10 Lakh influencers through the Good Creator Co. While The Good Glamm Group has scaled rapidly, it has come at a cost. The startup saw its net loss zoom more than 6X to INR 273 Cr in FY22 from INR 44 Cr in FY21.
