Prosus Ventures Co-Leads $135.5M Series D Financing of MyGlamm

December 29, 2021Client News

Gunderson Dettmer represented client Prosus Ventures, as it co-led the US$135.5 million Series D financing of Sanghvi Beauty & Technologies Private Limited, the owner of MyGlamm, an India-based direct-to-consumer beauty brand together with Warburg Pincus. Other Series D investors included L’Occitane, Bessemer Venture Partners, Amazon and the Mankekar Family Office. The new funding will enable MyGlamm to begin its international expansion plans.

In the announcement of the transaction, head of investments India at Prosus Ventures Ashutosh Sharma said, “For years South Korea and Japan have produced large and iconic D2C brands. It’s now time India joins that club and sets new charts. We are very excited to partner with the Good Glamm Group to disrupt the beauty and personal care industry and this marks our first investment in the DTC category.”

The Gunderson deal team was led by Jonathan Pentzien, and included Benjamin Teo, Binh Vong and Kinnari Sahita.