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<ul><li><keyword id="1830414" type="General" weightage="20" keywordseo="purplle" source="Orion">Purplle</keyword> is now valued at over a billion dollars after its $33 million fundraise.</li><li>The unicorn round saw participation from Paramark Ventures, Premji Invest and others.</li><li>The company plans to use this capital for acquisition and fund its inorganic growth plans.</li></ul>Cosmetics ecommerce company Purplle — which competes with Falguni Nayar’s <keyword id="6376684" type="General" weightage="20" keywordseo="nykaa" source="Orion">Nykaa</keyword> — is now valued at over a billion dollars after its $33 million fundraise. With this, Purplle has become the 102nd unicorn in India. The unicorn round saw participation from Paramark Ventures, along with existing investors like Premji Invest, Blume Ventures and Kedaara Capital. It was valued at $1.1 billion. The company plans to use this capital for acquisition and fund its inorganic growth plans. “The infusion is an opportunity to further our mission of building the beauty industry in India with technological investments, scaling of our private brands, and industry-first innovations,” Manish Taneja, co-founder and CEO of Purplle, said. Its competitor Nykaa currently had a market cap of ₹68,377 crore ($8.7 million), as pn June 9. Purplle — Founded by Manish Taneja and Rahul Dash in 2011 — is an ecommerce platform that offers beauty products, appliances and cosmetics. The company had closed a <a href="https://www.business-standard.com/article/companies/beauty-platform-purplle-com-raises-75-mn-from-kedaara-sequoia-and-blume-121102901076_1.html">$140 million</a> in October 2021, <a href="https://www.moneycontrol.com/news/business/startup/exclusive-purplle-eyes-500-million-valuation-amid-nykaa-ipo-7459501.html">reportedly</a> at a valuation of $500 million. It planned to use that capital to enhance its technology stack and incubating as well as acquiring more smaller startups. In January, the company also raised<a href="https://www.businessinsider.in/business/startups/news/nykaas-rival-purplle-raises-38-million-from-pantaloons-ceo-sequoia/articleshow/88953104.cms"> $38 million </a>led by Sequoia Capital. Blume Ventures and Sangeeta Pendruka, the chief executive officer (CEO) of Aditya Birla Fashion and Retail Limited (ABFRL)-owned Pantaloons, have participated in the Series D round. Purplle’s latest funding round was announced only two days after <a href="https://www.businessinsider.in/business/startups/news/physicswallah-is-indias-first-profitable-edtech-startup-up-here/articleshow/92056796.cms">PhysicsWallah became the first profitable edtech</a> to enter the unicorn club. The company has raised $100 million in a Series A round from Westbridge and GSV Ventures, at a valuation of $1.1 billion. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/pepper-content-raises-14-million-to-enter-the-us-market/articleshow/92084581.cms">INTERVIEW: Pepper Content skip the traditional Middle East route, heads directly for the US market</a> <a href="https://www.businessinsider.in/business/ecommerce/news/flipkart-has-lived-up-to-expectations-so-far-says-walmart-ceo-confirms-ipo-plans/articleshow/92096890.cms">Flipkart has ‘lived up to expectations so far’, says Walmart CEO, confirms IPO plans</a> <a href="https://www.businessinsider.in/business/ecommerce/news/meesho-recorded-5-35-million-orders-during-the-one-day-sale/articleshow/92100754.cms">India's youngest ecommerce giant received more than 60 orders every second during its one-day sale</a>

Nykaa competitor Purplle is the latest unicorn after a $33 million fundraise

<ul><li><keyword id="1830414" type="General" weightage="20" keywordseo="purplle" source="Orion">Purplle</keyword> is planning to set up its own network of retail stores.</li><li><keyword id="6376684" type="General" weightage="20" keywordseo="nykaa" source="Orion">Nykaa</keyword> has 80 stores across 40 cities, even though they contribute less than 10% to its revenue.</li><li>Purplle recently raised $75 million less than two weeks back, reportedly at a valuation of $500 million.</li></ul>Cosmetics and personal care products ecommerce platform Purplle, which competes with Falguni Nayar-led Nykaa, is planning to set up its own retail stores by March 2022. The company is still at the early stages of executing this plan and will take concrete steps in this direction by the end this year, Purplle’s Cofounder and Chief Executive (CEO) Manish Taneja told Business Insider. Purplle — which claims to have an annualised revenue of ₹750 crore — will start a pilot programme by setting up 3-4 stores in one city to test out the traction and the impact it has on the business, before making further plans. The company intends to expand the retail store chain further in the next two-three financial years. “I think offline is a huge market and we will love to be a player in it as well... We would like to have a significantly solid play in the omnichannel or offline model,” Taneja added. He believes that the offline stores would help the company get more brand recognition, increase customer’s experience as well as trust. “About 85% of the people in India will still buy offline so why do you leave out that market for someone else,” Taneja said. <div type="image" title="Half a billion dollar worth Purplle is now taking the next step to take on Nykaa" msid="87669372" hostid="261"></div> Nykaa — which listed on the stock exchange on November 10 <a href="https://www.businessinsider.in/stock-market/news/nykaa-starts-trading-at-2001-a-premium-of-77-87/articleshow/87618803.cms">at a premium of 77.8% </a>— also relied on this omnichannel approach to gather more customers’ interest and further boost its reputation. Even though the cosmetics stores make for less than 10% of Nykaa’s overall business, the company still plans to use the proceeds from the recent IPO to set up more retail stores. The company, sitting on a market cap of $14 billion, has 80 retail stores across 40 cities. Anchit Nayar, chief executive of Nykaa’s beauty ecommerce business, previously highlighted that the omnichannel approach is an important one for them especially in the beauty space. It not only allows the customers to physically test out the product, but also leads to greater trust. Both Nykaa and Purplle started off their journey in 2012 and 2011, respectively. Purplle recently raised $75 million less than two weeks back, <a href="https://www.moneycontrol.com/news/business/startup/exclusive-purplle-eyes-500-million-valuation-amid-nykaa-ipo-7459501.html">reportedly</a> at a valuation of $500 million. It will use this capital to enhance its technology stack and incubating as well as acquiring more smaller startups. The company has already acquired three startups in the beauty and personal care space, namely Stay Quirky, Carmesi, Juicy Chemistry. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/zomatos-investment-turns-curefit-into-indias-36th-unicorn-of-2021/articleshow/87640767.cms" data-type="tilCustomLink">Cult.fit’s parent company Curefit is the 36th unicorn in town</a> <a href="https://www.businessinsider.in/business/corporates/news/zomato-has-closed-all-international-operations-in-uk-us-singapore-and-lebanon/articleshow/87639773.cms" data-type="tilCustomLink">Zomato has officially pulled out of all international markets</a> <a href="https://www.businessinsider.in/business/corporates/news/nykaa-is-now-bigger-than-coal-india-britannia-irctc-and-almost-double-of-hero-motocorp/articleshow/87635312.cms" data-type="tilCustomLink">Nykaa is now bigger than Coal India, Britannia, IRCTC and almost double of Hero MotoCorp</a>

Half a billion dollar worth Purplle is now taking the next step to take on Nykaa

<ul><li>Only 4 companies entered the billion dollar unicorn club in the April-June quarter of 2022.</li><li>There were 13 companies that turned unicorns in the January to March quarter of 2022.</li><li>The slowdown in the unicorn creation is directly proportional to the slowdown in funding activities.</li></ul>The ongoing funding winter has already caused a slowdown in the unicorn creation trend of India. Only four companies entered the billion dollar unicorn club in the April-June quarter of 2022, compared to 13 in the preceding January-March quarter. India had added 12 unicorns in the comparable quarter last year. A unicorn is a startup valued at over a billion dollars. About 44 startups achieved this milestone in 2021 and that number was expected to be bigger this year thanks to the optimism in the market. However, contrary to expectations, the April-June quarter saw the least number of unicorns being created since September 2020. According to business intelligence firm Tracxn, the slowdown in the creation of unicorns is directly proportional to the slowdown in funding activities in the Indian startup ecosystem. The investors have limited capital to invest in startups, which makes them even more cautious about investing in bigger rounds or cash-burning businesses. Neobanking firm Open Financial, software-as-a-service (SaaS) company LeadSquare, Nykaa competitor <keyword id="1830414" type="General" weightage="20" keywordseo="purplle" source="Orion">Purplle</keyword> and edtech company <keyword id="14134943" type="General" weightage="20" keywordseo="physicswallah" source="Orion">PhysicsWallah</keyword> were the four companies that turned unicorns in the April-June quarter of 2022. Neha Singh, co-founder of Tracxn, emphasised that the entire slowdown in funding and unicorn creation has been impacted by the dip in later-stage funding rounds. The trend of low unicorn creation and late-stage funding is likely to continue throughout this calendar year, through to the March quarter of next year if the Russia-Ukraine war didn’t cool down, Neha added. OneCard was the only unicorn of July 2022, hinting at the continued slowdown for this quarter as well. <div type="image" title="In the funding winter, only four companies turn unicorns in the June quarter" msid="93271361" hostid="261" sizebytes="127869"></div> VerSe Innovation — the parent company of Dailyhunt and Josh — raised the biggest funding round last month when it secured $805 million at a<a href="https://www.businessinsider.in/business/startups/news/josh-dailyhunt-parent-company-verse-raises-805-million-takes-valuation-to-5-billion/articleshow/90675633.cms"> valuation of $5 billion</a>. It was followed by Delhivery at $304 million, Udaan at $275 million, ShareChat at $255 million and upGrad at $225 million. The slowdown in unicorn creation is not just limited to India, it coincides with a global downturn in funding. About 85 unicorns were added globally in the April to June quarter of 2022, compared to 129 in the same quarter last year. The number stood at 110 unicorns in the January to March quarter. Meanwhile, the global startup funding in April-June quarter of 2022 dropped by 23% on a year-on-year basis to $108.5 billion. Gaurav VK Singhvi, co-founder of investment firm We Founder Circle, explained that several startups had ignored their bottomline for a long time and the investors were now putting pressure on these companies to focus on their finances and numbers. “Revenue is all good but now they are looking at profitability and long term sustenance,” he added. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/business/news/gautam-singhania-md-of-the-raymond-group-people-are-ready-to-get-dressed-go/articleshow/93269593.cms">Lockdown effect: People are ready to get dressed &amp; go says Gautam Singhania of Raymond</a> <a href="https://www.businessinsider.in/india/news/freebies-home-visits-campaigns-and-free-jabs-for-covid-booster-dose-from-many-states/articleshow/93269529.cms">Freebies, home visits, campaigns and free jabs — this is how states are encouraging people to get their booster dose</a> <a href="https://www.businessinsider.in/tech/enterprise/news/twitter-delete-millions-of-spam-accounts-a-day-to-control-trolls/articleshow/93203353.cms">We delete millions of spam accounts a day to control trolls, says Twitter</a>

In the funding winter, only four companies turn unicorns in the June quarter

<ul><li>Purplle has raised ₹257.43 crore ($38 million) in a Series D round.</li><li>The company had closed a $140 million round in November 2021.</li><li>It plans to open its first retail outlet this year and acquire more startups.</li></ul>Cosmetics and personal care products ecommerce platform Purplle, which competes with Falguni Nayar-led <keyword id="6376684" type="General" weightage="20" keywordseo="nykaa" source="Orion">Nykaa</keyword>, has raised ₹257.43 crore ($38 million). The Series D round has been led by Sequoia Capital. Blume Ventures and <keyword id="12971640" type="General" weightage="20" keywordseo="sangeeta-pendruka" source="Orion">Sangeeta Pendruka</keyword>, the chief executive officer (CEO) of <keyword id="3378227" type="General" weightage="20" keywordseo="aditya-birla-fashion-and-retail" source="Orion">Aditya Birla Fashion and Retail</keyword> Limited (<keyword id="3360476" type="General" weightage="20" keywordseo="abfrl" source="Orion">ABFRL</keyword>)-owned Pantaloons, have participated in the Series D round. According to the regulatory filings, Purplle has approved the allotment of 5608 Series D1 preference shares at an issue price of ₹4,59,041 per share. Sequoia has invested nearly ₹238 crore in this round. The development was first <a href="https://entrackr.com/2022/01/exclusive-purplle-raises-fresh-funds-at-over-725-mn-valuation/">reported </a>by Entrackr. The company is now reportedly valued at $728 million. Business Insider has reached out to Purplle seeking confirmation of its valuation. Purplle — Founded by Manish Taneja and Rahul Dash in 2011 — is an ecommerce platform that offers beauty products, appliances and cosmetics. The company had closed a <a href="https://www.business-standard.com/article/companies/beauty-platform-purplle-com-raises-75-mn-from-kedaara-sequoia-and-blume-121102901076_1.html">$140 million</a> in October 2021, <a href="https://www.moneycontrol.com/news/business/startup/exclusive-purplle-eyes-500-million-valuation-amid-nykaa-ipo-7459501.html">reportedly</a> at a valuation of $500 million. It planned to use that capital to enhance its technology stack and incubating as well as acquiring more smaller startups. The company’s founder and CEO Taneja had <a href="https://www.businessinsider.in/business/startups/news/purplle-is-planning-to-set-up-its-own-network-of-retail-stores-as-nykaa/articleshow/87649025.cms">previously told</a> Business Insider that it plans to take a omnichannel approach by setting up retail stores by March this year. “I think offline is a huge market and we will love to be a player in it as well... We would like to have a significantly solid play in the omnichannel or offline model,” Taneja added. He believes that the offline stores would help the company get more brand recognition, increase customer’s experience as well as trust. Nykaa — which was listed on the stock exchange last November — also relies on an omnichannel approach to gather more customer interest and further boost its reputation. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/business/auto/news/tesla-india-prospects-get-a-boost-as-states-compete-with-each-other-to-invite-elon-musk-to-their-backyard/articleshow/88890951.cms">Tesla India prospects get a boost as states compete with each other to invite Elon Musk to their backyard</a> <a href="https://www.businessinsider.in/stock-market/news/hcl-technologies-shares-down-7-as-employees-are-leaving-the-firm-at-a-faster-rate-than-ever-before/articleshow/88944681.cms">The street is dumping HCL Tech shares because its employees are leaving at a faster rate than ever before</a> <a href="https://www.businessinsider.in/budget/news/even-after-the-lic-ipo-indian-government-may-be-well-short-of-its-divestment-target/articleshow/88938799.cms">Even after the LIC IPO, Indian government may be well short of its divestment target ⁠— for a third year in a row</a>

Nykaa's rival Purplle raises $38 million from Pantaloon’s CEO, Sequoia

New Indian unicorns get rarer in 2022 as funding winter sets in

<ul><li>The investment, which is <keyword id="18635" type="CITY" weightage="20" keywordseo="Amazon">Amazon</keyword>’s first in an Indian consumer brand, pegs <keyword id="3030142" type="PERSON" weightage="20" keywordseo="MyGlamm">MyGlamm</keyword>’s valuation at $100 million.</li><li>Founded in 2017 by Darpan Sanghvi and co-founded by Priyanka Gill, MyGlamm competes with the likes of SUGAR, Purplle, Plum among others.</li><li>MyGlamm now records revenues 200% of pre-Covid levels and also claims to have achieved EBITDA profitability.</li></ul>Direct-to-consumer (DTC) beauty and skincare brand MyGlamm has raised ₹175 crore from Amazon, <keyword id="10862" type="CITY" weightage="20" keywordseo="Wipro">Wipro</keyword> Consumer and Ascent Capital. The investment, which is Amazon’s first in an Indian consumer brand, pegs MyGlamm’s valuation at $100 million. However, Amazon’s individual investment amount remains undisclosed. Founded in 2017 by Darpan Sanghvi and co-founded by Priyanka Gill, MyGlamm competes with the likes of SUGAR, Purplle, Plum among others. MyGlamm has over 600 products across makeup, skincare and personal care, with a content-to-community-to-commerce platform approach. “We are really excited about all that we will be able to learn from both, Amazon and Wipro Consumer along with the financial rigour that Ascent Capital brings, as we move forward to fulfil our vision of building India’s largest beauty company leveraging DTC, digital, and data,” said Sanghvi in a statement. MyGlamm had earlier <a href="https://www.businessinsider.in/business/startups/news/popxo-gets-acquired-by-mumbai-based-beauty-commerce-platform-myglamm/articleshow/77398634.cms">acquired</a> six-year-old <keyword id="3128172" type="PERSON" weightage="20" keywordseo="POPxo">POPxo</keyword>, the online community startup for women. With the acquisition, POPxo’s investors Chiratae Ventures, Kalaari Capital, and Neoplux Venture Capital had joined the board of MyGlamm. Along with a digital presence, MyGlamm also focuses on offline retail with over 10,000 points of sales across 70 cities in India. The company, which claims to have grown by 400% in 2019, had to halt its Series C round, initially intended to be closed by April 2020, due to the COVID-19 pandemic. However, the company said that from zero revenue during the months of strict lockdown, MyGlamm now records revenues 200% of pre-Covid levels and also claims to have achieved EBITDA (earnings before interest, taxes, depreciation, and amortization) profitability in December 2020. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/indian-spacetech-startup-pixxel-space-gets-7-3-million-funding-before-the-launch-of-its-first-satellite/articleshow/81562421.cms">Indian spacetech startup Pixxel gets $7.3 million in funding as it announces a new product even before the launch of its first satellite</a> <a href="https://www.businessinsider.in/business/telecom/news/airtel-adds-3-times-more-subscribers-than-reliance-jio-vodafone-idea-turns-positive-for-the-first-time-in-15-months/articleshow/81562851.cms">Airtel adds 3 times more subscribers than Jio while Vodafone Idea gets net addition first time in 15 months</a> <a href="https://www.businessinsider.in/business/corporates/news/kishore-biyani-future-group-appeals-to-the-singapore-arbitrator-to-exclude-future-retail-from-the-fight-with-amazon/articleshow/81562016.cms">Ahead of Delhi High Court's decision, Future Group appeals to the Singapore arbitrator to exclude Future Retail from the fight with Amazon</a>

Amazon, Wipro Consumer and Ascent Capital invest in beauty brand MyGlamm

<ul><li>Overall, <keyword id="982553" type="General" weightage="20" keywordseo="indian-startups" source="Orion">Indian startups</keyword> have raised $13.3 billion between January and May 2022.</li><li>Some of these big ticket deals of May 2022 were Zepto’s $200 million round, Ather Energy’s $128 million round.</li><li>India has still managed to create more unicorns between January and May 2022 compared to the year before.</li></ul>In the middle of a heatwave in May is when the funding winter kicked off this year. May is the first month of the year when the total funds raised fell below $2 billion, according to a recent report by data analytics and consulting company GlobalData. “The decline in VC funding in May suggests that investors are increasingly becoming cautious in placing bets and startups are also realizing the impact of funding winter. In fact, May also witnessed announcement of very few big-ticket deals above and equal to $100 million,” said Aurojyoti Bose, lead analyst at GlobalData. Some of these big ticket deals included Zepto’s $200 million round, Ather Energy’s $128 million round and Absolute’s $100 million. In terms of unicorns, only one company — neobanking startup Open — saw its value rise over a billion dollars in May. Overall, Indian startups have raised $13.3 billion between January and May 2022. Indian startups are next only to Chinese counterparts in terms of VC funding value among the Asia-Pacific (APAC) countries during the last five months of 2022. <cmsannotation type="cmsannotation" annotationid="The funding winter could last for one or two years" comment="subhead" text="The funding winter could last for one or two years">The funding winter could last for one or two years</cmsannotation> Fund flow to Indian startups have been <a href="https://www.businessinsider.in/business/startups/news/he-slowdown-in-unicorn-creation-may-be-there-for-the-next-two-months-too/articleshow/91116175.cms">slowing down </a>since April due to the after-effects of the Russia-Ukraine war, impending recession and Fed rate interest hikes. This is expected to go on for another 12-18 months, if not 24 months, as per experts. “Given this environment, capital will be scarce in upcoming quarters,” Vamsi Krishna, chief executive officer and co-founder of Vedantu, <a href="https://www.businessinsider.in/business/startups/news/after-unacademy-vedantu-has-laid-off-600-people/articleshow/91643403.cms">said</a> in a blog post. Vedantu, Meesho, Cars24 and MFine have already started firing their employees and cutting down their workforce in an attempt to increase their runway. Unacademy too have started to rethink their business model to include more revenue streams. <cmsannotation type="cmsannotation" annotationid="Early and growth stage startups will find it tougher to raise funds" comment="subhead" text="Early and growth stage startups will find it tougher to raise funds">Early and growth stage startups will find it tougher to raise funds</cmsannotation> Even though the Indian startup valuations have taken a hit in April, 2022 has created more unicorns in the first five months of 2022 as compared to the entire year before. According to a recent report by market intelligence provider Tracxn, <a href="https://www.businessinsider.in/business/startups/news/india-created-14-unicorns-in-the-first-half-of-2022-before-funding-slowdown-hit-them/articleshow/91955385.cms">14 Indian companies turned unicorns </a>— valued at over a billion dollars — in 2022. Last year, the number was at 13 during the same time frame. But it is also important to note that only one startup entered the unicorn club in April and May. The pace came back however as PhysicsWallah, Purplle and Leadsquared turned unicorns in June. But stakeholders claim that the funds will flow slowly for the near-term. We Founder Circle’s cofounder Gaurav Singhvi <a href="https://www.businessinsider.in/business/startups/news/tough-times-will-make-startups-go-for-hero-teams-slash-ad-budgets-and-focus-on-profits/articleshow/92270583.cms">told </a>Business Insider India that the investors will have limited capital to invest in startups, which will make them even more selective about the companies they want to invest in. The biggest impact of this limited funding would be faced by early and growth stage startups, instead of well-established companies. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/business/startups/news/rejected-i-banks-manufacturers-for-not-having-enough-women-on-board-says-mamaearth-founder/articleshow/92429742.cms">Rejected i-banks, manufacturers for not having enough women on board says Mamaearth founder</a> <a class="tout-title-link" href="https://www.businessinsider.in/cryptocurrency/news/indias-crypto-players-bullish-on-hiring-say-crash-is-just-a-phase/articleshow/92425464.cms">India’s crypto players bullish on hiring; say crash is just a phase</a> <a href="https://www.businessinsider.in/tech/apps/news/google-has-termed-slice-as-a-harmful-app-recommending-users-to-uninstall-it/articleshow/92429265.cms">Slice payments app spies on photos, audio records and call history, says Google</a>

May is the first month of 2022 when startups raised less than $2 billion

<ul><li>The announcement comes as <keyword id="4548811" type="General" weightage="20" keywordseo="mamaearth" source="Orion">Mamaearth</keyword> turned a unicorn last week, after its parent company raised $52 million.</li><li>The company will use this funding to test out its products in the Middle East and South Asian markets.</li><li>The company expects to double its business by the end of March 2022.</li></ul>Direct-to-consumer (D2C) personal care brand Mamaearth has turned profitable in the financial year 2021, the company’s cofounder and chief executive (CEO) Varun Alagh told Business Insider. The announcement comes as Mamaearth turned <a href="https://www.businessinsider.in/business/startups/news/india-is-home-to-81-unicorns-now-as-mamaearth-globalbees-make-it-to-the-list/articleshow/88558418.cms">a unicorn last week</a>, after its parent company Honasa Consumer Private Limited raised $52 million at a valuation of $1.2 billion. A unicorn, in startup parlance, is a company valued at or over a billion dollars. Mamaearth’s Varun told BI that its revenue grew nearly four fold to ₹480 crore in the last financial year (FY20). Kanwaljit Singh of Fireside Ventures, who is one of the investors at Mamaearth, had previously <a href="https://inc42.com/buzz/what-the-financials-mamaearth-revenue-surges-6x-in-fy20-with-booming-sales/">noted</a> that Mamaearth crossed ₹300 crore in revenue two-three months before closing FY2021. Now, Varun expects to close March 2022 with double the revenue — which would be around ₹960 crore — by focusing on inorganic growth, launching more brands and doubling down on its distributions. While the number may be high, Mamaearth's past record has shown that it may not be too ambitious of a dream. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY2019 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY2020 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY2021 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹5.9 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹112 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹480 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Profit </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-₹3.5 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-₹5.9 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Undisclosed </td></tr></tbody><tbody></tbody></table>Source: Mamaearth’s financial statement for FY2020, Company statements Founded by Varun and Ghazal Alagh, Mamaearth is a D2C brand that sells over 80 beauty and personal care products across India through online and offline medium. The company will soon start testing out its products in the Middle East (Gulf Cooperation Council) and South Asia, Mamaearth’s CEO Varun told Business Insider. The latest refunding round of Honsa Consumer Private Limited — the parent company of Mamaearth, The Derma Co and other personal care house of brands — was led by Sequoia. Sofina Ventures and Evolvence had also participated in the round, which gave exits to several undisclosed early backers as well as employees of Mamaearth. “We will be deploying the funds towards brand launches, expanding distribution, inorganic growth and expanding the current portfolio across borders. Sequoia, Sofina and Evolvence have unique strengths in US, Europe and GCC respectively which will help us grow internationally and learn from others in these markets," Varun said. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/khatabook-dunzo-purplle-rapido-and-17-other-startups-that-can-become-unicorns-in-2022/slidelist/88614480.cms" data-type="tilCustomLink">From Dunzo to Purplle to Khatabook — here are the 21 startups that may turn unicorns in 2022</a> <a href="https://www.businessinsider.in/#:~:text=Tata%20Motors%2C%20Maruti%20Suzuki%2C%20Future%20Retail%20and%20other%20hot%20stocks%20on%20the%20first%20trading%20day%20of%202022" data-type="tilCustomLink">Tata Motors, Maruti Suzuki, Future Retail and other hot stocks on the first trading day of 2022</a> <a href="https://www.businessinsider.in/tech/news/tesla-delivers-a-record-number-of-vehicles-in-the-4th-quarter-smashing-analyst-estimates/articleshow/88654582.cms" data-type="tilCustomLink">Tesla delivers a record number of vehicles in the 4th quarter, smashing analyst estimates</a>

Mamaearth says it has turned profitable as revenue neared ₹500 crore last year

<ul><li><keyword id="2947589" type="General" weightage="20" keywordseo="droom" source="Orion">Droom</keyword> plans to raise ₹2,000 crore in fresh issue and the remaining ₹1,000 crore would be raised as an offer for sale.</li><li>It will use the capital to fund its organic as well as inorganic growth initiatives.</li><li>Droom was launched in 2014 by <keyword id="195858" type="General" weightage="20" keywordseo="sandeep-aggarwal" source="Orion">Sandeep Aggarwal</keyword>, who previously founded India’s fourth unicorn ShopClues.</li></ul>Online automobile marketplace Droom has filed its draft red herring prospectus (DRHP) for its ₹3,000 crore initial public offering (IPO). The Gurugram-based startup — which was valued at $1.2 billion three months ago — is backed by Toyota Tsusho, Digital Garage, Lightbox, Ellison Investments, SevenTrainVentures and others. Droom plans to raise ₹ 2,000 crore in fresh issue and the remaining ₹1,000 crore would be raised as an offer for sale. The seven-year-old startup has not yet revealed which investors will be selling their shareholdings in the upcoming IPO. <div type="image" title="Droom files for ₹3,000 crore IPO ⁠— the online car dealer wants ₹400 crore for acquisitions" msid="87664955" hostid="261"></div> Droom is the second automobile marketplace to hit the public market. Meanwhile, Cars24 — the highest valued player in the domain — has converted itself into a public limited company, a step taken by companies before going public. Droom ⁠— launched in 2014 by Sandeep Aggarwal, who previously founded India’s fourth unicorn ShopClues ⁠— has raised $333 million to date, as per business intelligence platform <a href="https://www.crunchbase.com/organization/droom/company_financials">Crunchbase</a>. A unicorn, in startup purlance, is a company valued over a billion dollars. CarTrade got listed on August 20 and it’s shares have fallen 17% since last one month Droom will use the proceeds from the IPO for its organic as well as inorganic growth initiatives, which usually includes acquisitions and investments in other businesses. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Usage </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Amount </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Funding organic growth initiatives </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,150 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Funding inorganic growth initiatives </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹400 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">General corporate purpose </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">N/A </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> The company in<a href="https://www.businessinsider.in/business/startups/news/droom-founder-explains-why-he-is-considering-a-us-ipo-and-where-he-intends-to-spend-the-money/articleshow/84917608.cms"> July 2021 highlighted</a> that it is exploring listing opportunities in both India and the US, even though it does not have any business in the United States. The success of the IPOs from Zomato, Nykaa and EaseMyTrip may have pushed Droom to go for the IPO in India itself, even though raising money in dollars would have left more funds, in rupee terms, to be spent in India. “I never thought, and I was a Wall Street analyst, that new age companies with no near-term visibility to profitability can be listed on BSE and NSE [National Stock Exchange], and can create a decent enough valuation,” Agarwal told Business Insider in an interview in July 2021. WATCH MORE: India's Latest Unicorn Is Prepping For An IPO Now <div type="Video" msid="84897976" hostid="261" title="India's latest unicorn is prepping for an IPO now" dataSource="BUSINESSINSIDER" thumbUrl="https://denmark.timesinternet.in/cmslite/api/app/images.jpg?msid=84897976"></div> He further added that the stock appetite among the Indian investors has changed over the last couple of years and this is why they are open to listing in India now. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/the-mystery-behind-the-fall-in-tata-steels-shares-despite-a-seven-fold-rise-in-profit/articleshow/87663158.cms">The mystery behind the fall in Tata Steel’s shares despite a seven-fold rise in profit</a> <a href="https://www.businessinsider.in/business/startups/news/purplle-is-planning-to-set-up-its-own-network-of-retail-stores-as-nykaa/articleshow/87649025.cms">Half a billion dollar worth Purplle is now taking the next step to take on Nykaa</a> <a href="https://www.businessinsider.in/stock-market/news/fino-payments-bank-starts-trading-at-548-a-premium-of-5/articleshow/87659329.cms">Fino Payments Bank lists 5% below IPO price</a>

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