With this investment, existing investor TVS Shriram Growth Fund has exited the company.
Lighthouse India Fund III, an affiliate of Lighthouse Advisors, has invested $15.72 million in Nykaa, the Mumbai-based beauty ecommerce platform.
With this investment, existing investor TVS Shriram Growth Fund has exited the company. The fund had invested in Nykaa in the Series B and C rounds in 2015 and 2016.
Nykaa was founded by Falguni Nayar in July 2012. The company provides an online marketplace for beauty and wellness products. It offers over 850 brands and 100K products.
Falguni Nayar said, “We are excited to welcome Lighthouse to our shareholder base as we launch into our next phase of growth. We believe they will bring to bear their expertise in the retail sector propelling Nykaa to even greater heights. As we add new verticals and product categories we will continue to build on meaningful experiences that engage and delight our customers.”
Sean Sovak, Co-founder of Lighthouse, said, “We are truly thrilled to become a shareholder in Nykaa. What Falguni and team have created is nothing short of brilliant, completely disrupting the personal care market in India, by focusing on ease of access and superior customer experience. We are excited by the opportunity ahead for the company.”