Thrasio-style venture GlobalBees has raised over USD 110 million led by Premji Invest with participation from new investors, Steadview Capital and existing investors, Softbank, FirstCry among others, said the company in a statement. Post the investment, GlobalBees said its valuation has risen to USD 1.1 billion.

The company aims to utilise the funds to improve customer experience, scaling companies, strengthen its product portfolio and further product innovation. The company said, “It is in advanced talks with more than 20 companies to strengthen its portfolio of digital-first brands.”

“With this investment, we are well setup to become India’s largest brand platform,” said Nitin Aggarwal, CEO of GlobalBees. “We are in august company of exceptional founders who have built great companies online. With this infusion of capital, we can work together to take these companies global.”

The latest funding values GlobalBees at just over USD 1 billion and with the fresh capital infusion has become the second unicorn among a group of Thrasio-style ventures. Former Myntra chief executive Ananth Narayanan founded Mensa Brands recently entered the unicorn club of startups.

GlobalBees invests in sellers on platforms like Flipkart, Amazon and Myntra. To stand out from the crowd on e-tailers, these startups can provide the marketing expertise for such sellers.

GlobalBees said in the filing that it requires additional funds “for the growth and expansion of its business and general corporate purposes.” In its Series A round in April, the startup had raised USD 150 million from FirstCry, SoftBank and PremjiInvest, half of which was debt funding.