-
The round also saw participation from Kube VC and marquee angels, including Gopal Krishna Varshney and IR capital partners.
-
The funds raised will be utilized for expanding our presence in Tier I and Tier II cities and penetrating into international markets.
-
Glampus is a SaaS-enabled B2B beauty marketplace to help small and medium-sized salons, spas, beauty shops, and supermarkets procure beauty products to service their clientele and run their business operations with efficiency and visibility on product availability.
-
Glamplus has grown by 12% in the last 12 months and is currently operational in Karnataka, Chhattisgarh, and Odisha.
-
It aims to cater to 1000 B2B beauty clients spanning from luxury salons to beauty shops and supermarket chains in the next 6 months.
Bengaluru, January 10, 2024: Glamplus, a SaaS-enabled B2B beauty marketplace, has raised approximately 16.5 crore in a pre-series A round from Upsparks Capital, Eagle10 Ventures, the ITI Growth Opportunities Fund, and Inflection Point Ventures. The round also saw participation from Kube VC and other marquee investors, including Gopal Krishna Varshney and IR Capital Partners. The funds will be directed towards B2B expansion in Tier I and Tier II cities and to venture into international markets.
Glamplus is a B2B marketplace that assists and allows small, medium, and large salons, spas, and retail beauty chains to adopt technology for running their day-to-day operations more efficiently. Glamplus specializes in a spectrum of services tailored to meet the diverse needs of their customer base. The company has built a SaaS platform that offers state-of-the-art solutions to optimize efficiency and productivity for their consumers. Glamplus also provides offline and online supply of beauty products, professionals, and personal care to chains of spas, aiming for expansion and market entry into beauty product supply in beauty stores and supermarkets.
Rohan Singh, Chief Operating Officer, Glamplus, says, “We are on a path to profitability by Q1 24 by creating an impact and reaching small businesses like salons and beauty stores where they can avail themselves of higher fulfillment, faster deliveries, and better pricing due to an optimized supply chain with no middlemen. Our focus is also on providing quality, genuine professional products. We are also optimizing our product supply and delivery experience.”
Mr. Mitesh Shah, Co-Founder, Inflection Point Ventures, commented, “What team size and cash on hand are needed to oversee business operations, manage inventory, handle customer relations, and maintain an online presence while balancing responsibilities as a small to medium-sized salon or spa owner? Recognizing this challenge, Glamplus offers a comprehensive solution by providing employee management, appointments, inventory, expenses, campaigns, and analysis services. In an industry saturated with businesses of varying classes, from high-end to low-end, Glamplus creatively addresses a critical need that has long gone unanswered.”
Mohit Gulati, Managing General Partner, ITI Growth Opportunities Fund, says, “Being an early mover in the industry, Glamplus has helped automate salon workflow and minimize unorganized inventory procurement by providing better rates and quick delivery times. It currently hosts around 32 brands. The BPC market in India reached $26.3 billion in 2022 and is expected to reach $38.0 billion by 2028. The Glamplus team is well versed in the salon space, has resiliently built the company’s business strategy from the ground up, and is scaling operations successfully across cities. Glamplus is well-positioned to take on the B2B beauty market across India and the globe.
Glamplus is currently operational in Karnataka, Chhattisgarh, and Odisha, catering to clients from salons to small and medium-sized beauty stores. The company recently launched a centralized warehouse to facilitate faster order processing, inventory management, and fulfillment, minimize shipping times and costs, and ensure quicker delivery to customers. The company has also designed efficient tools for optimization of delivery, a better logistics plan, and packaging development.
Glamplus pivoted into the digital B2B beauty marketplace and has listed over 2000 SKUs, registering 12% growth annually. With an over 30-member lean team, Glamplus has built a user base of more than 9500 beauty customer clients and over 6 lakh B2C customers. It aims to cater to 1000 B2B beauty clients spanning from luxury salons to small-sized parlors in the next 6 months.
Do Follow: CIO News LinkedIn Account | CIO News Facebook | CIO News Youtube | CIO News Twitter
About us:
CIO News, a proprietary of Mercadeo, produces award-winning content and resources for IT leaders across any industry through print articles and recorded video interviews on topics in the technology sector such as Digital Transformation, Artificial Intelligence (AI), Machine Learning (ML), Cloud, Robotics, Cyber-security, Data, Analytics, SOC, SASE, among other technology topics.
