Glamplus Raises Rs 16.5 Crores in Pre-Series A Funding for B2B Expansion
Glamplus, a SaaS-enabled B2B Beauty Marketplace, has secured approximately Rs 16.5 Crores in a pre-Series A funding round, with leading investors such as Upsparks Capital, Eagle10 Ventures, ITI Growth Opportunities Fund and Inflection Point Ventures. Other notable participants include Kube VC, Gopal Krishna Varshney, IR Capital Partners, and other esteemed investors. Specializing in delivering innovative technology solutions to salons, spas, and retail beauty chains, Glamplus aims to improve operational efficiency. The raised capital will be allocated for expanding B2B operations in Tier I and Tier II cities, along with plans to enter international markets.
Rohan Singh, the Chief Operating Officer at Glamplus, conveyed optimism about the company's journey towards profitability, asserting, "We anticipate achieving profitability by Q1 2024 through impactful outreach to small businesses like salons and beauty stores. Our aim is to offer improved fulfillment, faster deliveries and competitive pricing by optimizing the supply chain and eliminating intermediaries. We are dedicated to delivering quality, authentic professional products and refining the overall product supply and delivery experience".
Currently operational in Karnataka, Chhattisgarh and Odisha, Glamplus caters to a diverse clientele, ranging from salons to small and medium-sized beauty stores. The company recently introduced a centralized warehouse to streamline order processing, inventory management, and fulfillment. This initiative aims to reduce shipping times and costs while ensuring prompt customer deliveries. Mohit Gulati, Managing General Partner at ITI Growth Opportunities Fund, underscored Glamplus's advantageous position as an early entrant in the industry. He noted that Glamplus has played a crucial role in automating salon workflows and improving inventory procurement efficiency by offering favorable rates and swift delivery times. Gulati further emphasized the growth potential in India's Beauty and Personal Care (BPC) market, which is projected to reach $38.0 billion by 2028.
Rohan Singh, the Chief Operating Officer at Glamplus, conveyed optimism about the company's journey towards profitability, asserting, "We anticipate achieving profitability by Q1 2024 through impactful outreach to small businesses like salons and beauty stores. Our aim is to offer improved fulfillment, faster deliveries and competitive pricing by optimizing the supply chain and eliminating intermediaries. We are dedicated to delivering quality, authentic professional products and refining the overall product supply and delivery experience".
Currently operational in Karnataka, Chhattisgarh and Odisha, Glamplus caters to a diverse clientele, ranging from salons to small and medium-sized beauty stores. The company recently introduced a centralized warehouse to streamline order processing, inventory management, and fulfillment. This initiative aims to reduce shipping times and costs while ensuring prompt customer deliveries. Mohit Gulati, Managing General Partner at ITI Growth Opportunities Fund, underscored Glamplus's advantageous position as an early entrant in the industry. He noted that Glamplus has played a crucial role in automating salon workflows and improving inventory procurement efficiency by offering favorable rates and swift delivery times. Gulati further emphasized the growth potential in India's Beauty and Personal Care (BPC) market, which is projected to reach $38.0 billion by 2028.
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