The newest capital infusion follows the Rs 100 crore Steadview Capital invested in the Mumbai-headquartered firm in April. That had valued the corporate at about $1.2 billion, in the method catapulting it into the unicorn membership, or these startups that command a valuation of not less than $1 billion.
According to paperwork filed by the eight-year-old firm, accessed by enterprise intelligence platform Tofler, FSN E-commerce Pvt Ltd, the guardian entity which owns and operates Nykaa, has allotted a further 1,09,986 fairness shares at Rs 6,049.56 per share to Steadview Capital Mauritius. Steadview Capital has now invested near Rs 170 crore in the corporate and holds a 3% stake in the enterprise.
Since January, the agency, which first got here into prominence in 2014 after it invested in India’s largest on-line retailer Flipkart, has backed wealth administration platform INDWealth, logistics Software as a Service firm Logi-Next, ed-tech enterprise Unacademy and fintech firm BharatPe, by means of a mixture of major and secondary offers.
The capital infusion comes at a time when threat capital funding exercise has virtually floor to a halt due to the unfold of the Covid-19 pandemic, which, in flip, has pressured vertical ecommerce corporations akin to Nykaa to preserve money, given the steep plunge in discretionary spending by customers.
The newest funding comes virtually a 12 months after the corporate, which was based by former service provider banker Falguni Nayar, closed a Rs 100 crore Series-E financing spherical led by TPG Growth, the mid-market funding arm of PE agency TPG Capital, valuing it at about $730 million on the time.