Glamplus, the SaaS-enabled B2B Beauty Marketplace, has successfully raised approximately Rs 16.5 crores in a pre-Series A funding round. The investment was led by Upsparks Capital, Eagle10 Ventures, ITI Growth Opportunities Fund, and Inflection Point Ventures. Noteworthy participation also came from Kube VC, along with prominent angel investors such as Gopal Krishna Varshney and IR Capital Partners, the company announced in a release on Wednesday.
The funds raised in this round will be utilized to expand Glamplus’s presence in Tier I and Tier II cities and make strategic inroads into international markets.
Glamplus operates as a B2B marketplace, providing technology solutions for small, medium, and large salons, spas, and beauty chains to streamline their day-to-day operations efficiently. The platform specializes in a range of services tailored to meet the diverse needs of its clientele. Utilizing a SaaS platform, Glamplus offers state-of-the-art solutions to optimize efficiency and productivity, including offline and online supply of beauty products, professionals, and personal care items.
Rohan Singh, Chief Operating Officer at Glamplus, outlined the company’s objectives, stating, “We are on a path to profitability by Q1 24 by creating an impact and reaching small business like salon and beauty stores where they can avail higher fulfillment, faster deliveries, and better pricing due to optimized supply chain with no middlemen. Our focus is also on providing quality, genuine professional products. We are also optimising our product supply & delivery experience.”
Glamplus has witnessed a 12% growth in the last 12 months and is currently operational in Karnataka, Chhattisgarh, and Odisha. The company aims to extend its services to 1000 B2B beauty clients, ranging from luxury salons to beauty shops and supermarket chains, within the next 6 months.
Mitesh Shah, Co-Founder of Inflection Point Ventures, emphasized Glamplus’s role in addressing a critical need in the industry, stating, “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.”
Glamplus has positioned itself as a leader in the B2B beauty market, with a focus on the automation of salon workflows and organized inventory procurement. With approximately 32 brands currently hosted on its platform, Glamplus is well-poised to capitalize on the growing Beauty and Personal Care (BPC) market in India, which reached US $ 26.3 billion in 2022 and is expected to reach US $ 38.0 billion by 2028.
The company, currently operational in Karnataka, Chhattisgarh, and Odisha, recently launched a centralized warehouse to facilitate faster order processing, inventory management, and fulfillment, reducing shipping times and costs. Glamplus has also developed efficient tools for optimizing delivery, logistics planning, and packaging development.
With a 30-member lean team, Glamplus has successfully built a user base of more than 9,500 B2B beauty customers and over 600,000 B2C customers. The company’s strategic pivot to a digital B2B beauty marketplace has resulted in over 2000 SKUs listed and a remarkable 12% annual growth.
Glamplus is a SaaS-enabled B2B Beauty Marketplace headquartered in Bengaluru. Founded in 2020, the company has become a well-known player in the beauty and wellness space, offering innovative solutions and services that redefine industry standards worldwide.
