Thrasio-style venture GlobalBees has raised over $110 million led by Premji Invest. GlobalBees valuation has therefore risen to $1.1 billion, making it a unicorn.
The company plans to use the funds to further strengthen its product portfolio and product innovation, improve customer experience, hiring talent and scaling companies.
GlobalBees is also in talks with more than 20 brands to strengthen its portfolio. Its portfolio of companies across categories includes homecare, beauty and personal care, nutrition and wellness, fashion jewellery, and eyewear.
Nitin Aggarwal, CEO of GlobalBees said, “We have a deep purpose to build meaningful products across industries that address unique consumer needs. With this investment, we are well set to become India’s largest brand platform. We are an august company of exceptional founders who have built great companies online. With this infusion of capital, we can work together to take these companies global.
GlobalBees said in the filing that it requires additional funds “for the growth and expansion of its business and for general corporate purposes.” The start-up had raised $150 million in its Series A round from FirstCry, SoftBank and Premji Invest in April, half of which was debt funding.
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