Total amount raised
₹236.7 Millions
Latest funding date
01/01/2024
Location
Glamplus has successfully raised funds through multiple rounds, including a recent pre-Series A round. The platform serves as a SaaS-enabled beauty marketplace for salons and spas in the SMB segment.
Keep reading to explore the intricacies of Glamplus's fundraising journey and the investors backing this innovative platform.
What Is Glamplus?
Glamplus, founded in July 2020, is a SaaS-enabled beauty marketplace for salons and spas in the SMB segment. Based in Bengaluru, Karnataka, India, the company offers a range of digital solutions including appointment tracking, invoicing, and customer engagement tools.
The company was founded by Divyanshu Singh, Rohan Singh, and Vatsalya Agarwal. Glamplus employs between 11-50 people, focusing on revolutionizing supply chains and digitizing operations in the beauty and personal care industry.
How Much Funding Has Glamplus Raised?
- Seed Round
- Amount Raised: ₹20M
- Date: May 2021
- Lead Investors: Inflection Point Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance the platform's technology and expand its market reach.
- Seed Round
- Amount Raised: ₹51.7M
- Date: January 2022
- Lead Investors: Blume Ventures, Ramakant Sharma
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and improve customer engagement tools.
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: June 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and expand market presence.
- Pre-Series A Round
- Amount Raised: ₹165M
- Date: January 2024
- Lead Investors: Inflection Point Ventures, Eagle10 Ventures, Kube VC
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale up its B2B beauty marketplace and expand internationally.
Total Amount Raised: ₹236.7M
Current Valuation: Not publicly disclosed
Key Investors
- Upsparks Capital
- Details: Upsparks Capital is a venture capital firm that invests in early-stage startups. They participated in the Rs 16.5 crore pre-Series A funding round for Glamplus.
- Investment Focus Areas: Early-stage startups.
- Notable Investments: Not specified.
- Blume Ventures
- Details: Blume Ventures is a venture capital firm that invests in early-stage technology startups. They were a lead investor in the January 2022 seed round for Glamplus.
- Investment Focus Areas: Technology, consumer internet, healthcare.
- Notable Investments: Unacademy, Dunzo, Purplle.
- Ramakant Sharma
- Details: Ramakant Sharma is a co-founder of Livspace and an active angel investor. He participated in the January 2022 seed round for Glamplus.
- Investment Focus Areas: Real estate, technology, consumer services.
- Notable Investments: Livspace, Purplle, Khatabook.
- Inflection Point Ventures
- Details: Inflection Point Ventures (IPV) is a network of angel investors that invests in early-stage startups. They have been involved in multiple funding rounds for Glamplus, including the latest pre-Series A round.
- Investment Focus Areas: Early-stage startups, technology, consumer services.
- Notable Investments: BharatPe, Toch, Oga.
- Eagle10 Ventures
- Details: Eagle10 Ventures is a venture capital firm focusing on technology-driven companies. They participated in the Rs 16.5 crore pre-Series A funding round for Glamplus.
- Investment Focus Areas: Technology, SaaS, fintech.
- Notable Investments: Not specified.
What's Next for Glamplus?
Glamplus is poised for significant growth, with opportunities in international markets and tier I and tier II cities. The company aims to serve 1,000 B2B beauty clients in the next six months, leveraging its SaaS platform to enhance operational efficiency for salons and spas. The beauty and personal care market in India is projected to reach $38 billion by 2028, offering a substantial growth avenue.
Future fundraising rounds are likely as Glamplus scales its operations and demonstrates profitability. The company’s recent pre-Series A round indicates strong investor interest, which could lead to further investments to support technological advancements and market expansion.
However, challenges such as competition from other SaaS platforms, managing logistics, and navigating international market dynamics could pose hurdles. Ensuring customer satisfaction and maintaining quality while scaling will be crucial for sustained success.
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