Glamplus, a SaaS enabled B2B Beauty Marketplace has raised appprox 16.5cr in a pre-series A round from Upsparks Capital, Eagle10 Ventures, ITI Growth Opportunities Fund and Inflection Point Ventures.
The round also saw participation from Kube VC and other marquee investors including Gopal Krishna Varshney and IR capital partners. The funds will be directed towards B2B expansion in Tier I & Tier II cities and to venture into International markets.
Rohan Singh, Chief Operating Officer, Glamplus, says “We are on a path to profitability by Q1 24 by creating an impact and reaching small business like salon and beauty stores where they can avail higher fulfilment, faster deliveries and better pricing due to optimized supply chain with no middlemen. Our focus is also on providing quality, genuine professional products. We are also optimising our product supply & delivery experience.”
Mitesh Shah, Co-Founder, Inflection Point Ventures commented saying “What team size and cash on hand is needed to oversee business operations, manage inventory, handle customer relations, and maintain an online presence while balancing responsibilities as a small to medium-sized salon/spa owner? Recognizing this challenge, Glamplus offers a comprehensive solution by providing Employee Management, Appointments, Inventory, Expenses, Campaigns, and Analysis services. In an industry saturated with businesses of varying classes, from high-end to low-end, Glamplus creatively addresses a critical need that has long gone unanswered.”
Mohit Gulati, Managing General Partner, ITI growth opportunities fund, says, “Being an early mover in the industry, Glamplus has helped automate salon workflow and minimise unorganised inventory procurement by providing better rates and quick delivery time. It currently hosts around 32 brands. The BPC market in India reached $26.3 billion in 2022 and is expected to reach $38.0 billion by 2028. Glamplus team is well versed in the salon space and have resiliently built the company’s business strategy from the ground up and are scaling operations successfully across cities. Glamplus is well-positioned to take on the B2B beauty market across India and the globe.”
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