Total amount raised
$95 Millions
Latest funding date
Location
Title
SUGAR Cosmetics has successfully raised significant funding over multiple rounds, with its latest being a Series E.
Keep reading to explore the intricacies of SUGAR Cosmetics' fundraising journey and the investors backing this innovative brand.
What Is SUGAR Cosmetics?
SUGAR Cosmetics, founded in 2012 by Kaushik Mukherjee and Vineeta Singh, is a cruelty-free makeup brand based in Mumbai, Maharashtra, India.
The company offers a wide range of premium makeup products, including lipsticks, foundations, eyeliners, and more, catering to a bold and independent clientele.
With a workforce of 251-500 employees, SUGAR Cosmetics has rapidly grown to become a favorite among millennials, known for its innovative products and distinctive packaging.
How Much Funding Has SUGAR Cosmetics Raised?
- Series A
- Amount Raised: $2.5M
- Date: June 2017
- Lead Investors: India Quotient, RB Investments Pte. Ltd.
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand product offerings and increase market presence.
- Series B
- Amount Raised: $12M
- Date: March 2019
- Lead Investors: A91 Partners, Anicut Capital, India Quotient
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance distribution channels.
- Series C
- Amount Raised: $21M
- Date: October 2020
- Lead Investors: Elevation Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To boost digital presence and product development.
- Debt Financing
- Amount Raised: $2M
- Date: October 2020
- Lead Investors: Stride Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support working capital needs.
- Series D
- Amount Raised: $50M
- Date: May 2022
- Lead Investors: L Catterton
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand international market reach and product lines.
- Venture Round
- Amount Raised: Not publicly disclosed
- Date: September 2022
- Lead Investors: Ranveer Singh
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To leverage celebrity endorsement for brand growth.
- Secondary Market
- Amount Raised: $3M
- Date: October 2024
- Lead Investors: IMM Investment
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity to early investors.
- Series E
- Amount Raised: ₹380M (approximately $4.5M)
- Date: November 2024
- Lead Investors: Not publicly disclosed
- Valuation at Round: Estimated between ₹2,600 Cr to ₹2,700 Cr
- Motivation Behind the Round: To scale up operations, expand product portfolio, and enhance digital presence.
Total Amount Raised: $95M
Current Valuation: Estimated between ₹2,600 Cr to ₹2,700 Cr
Key Investors
- L Catterton
- Details: L Catterton is a global consumer-focused private equity firm. They have a strong track record of investing in high-growth consumer brands.
- Investment Focus Areas: Beauty, health, wellness, consumer brands.
- Notable Investments: Peloton, Vroom, ClassPass.
- Anicut Capital
- Details: Anicut Capital provides debt and equity capital to high-growth companies. They focus on supporting businesses through various stages of growth.
- Investment Focus Areas: Consumer goods, services, growth capital.
- Notable Investments: Wow! Momo, Bira 91, Lendingkart.
- Elevation Capital
- Details: Elevation Capital is a venture capital firm that invests in early-stage and growth-stage companies. They have a diverse portfolio across multiple sectors.
- Investment Focus Areas: Technology, consumer, financial services.
- Notable Investments: Paytm, Swiggy, UrbanClap.
- Malabar Investment
- Details: Malabar Investment focuses on long-term investments in high-growth potential companies. They have a strategic approach to building value in their portfolio companies.
- Investment Focus Areas: Consumer goods, financial services, technology.
- Notable Investments: Acquired stakes in Sugar Cosmetics from India Quotient and RB Investments.
- Stride Ventures
- Details: Stride Ventures provides venture debt to high-growth startups. They aim to support companies with flexible financing solutions.
- Investment Focus Areas: Technology, consumer, healthcare.
- Notable Investments: MobiKwik, SUGAR Cosmetics, Zetwerk.
What's Next for SUGAR Cosmetics?
With the recent infusion of INR 38 Cr, SUGAR Cosmetics is poised to capitalize on several growth opportunities. The company plans to expand its product portfolio and enhance its digital presence, tapping into the growing demand for beauty products in India. Strengthening its supply chain and distribution network will be crucial to meeting this demand and reaching a wider audience.
Future fundraising seems promising, given the continuous backing from key investors like Anicut Equity, Elevation Capital, and L Catterton. These investors may continue to provide capital, enabling SUGAR Cosmetics to scale operations and explore new growth avenues. However, the company must navigate the highly competitive beauty market, ensuring sustained innovation and quality to retain customer loyalty.
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