SaaS-enabled B2B Beauty Marketplace Glamplus Raises Rs 16.5 Cr Funding, Aims Expansion in Tier-I and II Cities
Glamplus, a SaaS-enabled B2B beauty marketplace in the beauty and wellness space, has made headlines by raising $1.9 million (Rs 16.5 crore) in a pre-Series A funding round from a host of investors.
These investors include Upsparks Capital, Eagle10 Ventures, ITI Growth Opportunities Fund, Inflection Point Ventures, and Kube VC. The round also saw participation from angel investor Gopal Krishna Varshney and IR Capital Partners.
As per the startup, the freshly raised funds will be used for expansion in tier-I and II cities and venture into international markets.
Glamplus | Beauty Marketplace for Salons & Spas
Co-founded by Divyanshu Singh, Vatsalya Agarwal, and Rohan Singh, Glamplus is a SaaS-enabled B2B beauty marketplace in the beauty and wellness space that assists and allows small, medium, and large salons/spas/retail beauty chains to adopt technology for running their day-to-day operations more efficiently.
Further, the SaaS-enabled B2B beauty marketplace also provides offline and online supply of beauty products, professionals, and personal care to chain of spas that aim for expansion and market entry into beauty product supply in beauty stores and supermarkets.
Regarding the development, Rohan Singh, Co-founder and Chief Operating Officer of Glamplus, highlighted that the startup is on a path to profitability by Q1 24. The startup aims to do this by creating an impact and reaching small businesses like salons and beauty stores, enabling them with higher fulfillment, faster deliveries, and better pricing due to an optimized supply chain with no middlemen.
Singh added that the beauty marketplace also focuses on providing quality, genuine professional products and optimizing product supply & delivery experience.
With over a 30-member lean team, the digital B2B beauty marketplace has listed over 2000 SKUs, registering a 12% growth annually. The startup has built a user base of more than 9500 beauty customer clients and over 6 lakh B2C customers.
Commenting on the development, Mitesh Shah, Co-Founder of Inflection Point Ventures, said,
“… 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.”
Currently operational in Karnataka, Chhattisgarh, and Odisha, Glamplus aims to cater to 1,000 B2B beauty clients, including luxury salons, beauty shops, and supermarket chains in the next six months.
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