Nykaa raises Rs 100 Cr from Steadview Capital

The valuation of the beauty and lifestyle retailer now pegged at $1.2 billion

Nykaa, Omnichannel beauty and lifestyle retailer, has raised ₹100 crore from existing investor Steadview Capital, as primary investment. With this fund raise; Nykaa’s valuation is pegged at around $1.2 billion.

“We deeply value the trust and support of our investors, customers and brand partners who have been instrumental to our success. In the midst of this unprecedented global crisis we are working to ensure all our stakeholders are well served and that Nykaa emerges as a leading retail player in the industry,” said Falguni Nayar, Founder and CEO of Nykaa ,in a statement.

Last year in March, Nykaa raised ₹100 crore from private equity investment firm, TPG Growth, which set it on track to join the Unicorn club of private companies that are valued at over $1 billion. Later that year, Nykaa raised another $30 million from Steadview Capital through a secondary share sale.

Ravi Mehta, Founder and CIO of Steadview Capital, said: “Nykaa has transformed the beauty industry in India and has established a very strong brand. We believe the company is poised for a strong growth trajectory in the years to come. The company’s focus on customer service and capital efficiency stands out in the Indian e-commerce space.”