After acquiring the fashion styling and commerce platform 20Dresses last week, the top online beauty retailer Nykaa recently raised Rs 100 crore. The $14 million funds were raised by lead investor Singapore-based TPG Growth IV SF. Nykaa in the this fund raising round sold 2,83,287 shares to TPG Growth. Moreover, after this round of seed funding, Nykaa is inching closer to joining the unicorn club of companies. 

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Earlier, in September 2018, Nykaa raised Rs 113 crore with the lead investing by Lighthouse India Fund III, an affiliate of Lighthouse Advisors. It was estimated that the valuation was nearly $500 million. Today, after the fresh round of seed funding, it has a valuation of nearly $724 million. 

The Mumbai based multi-brand beauty retailer is also backed by angel investors such as Hero Enterprises Chairman Sunil Kant Munjal, Marico Chairman Harsh Mariwala, Warbug Pincus Founder Dailp Pathak, and former Givaudan {resident Michael Carlos. Max Ventures and TVS Capital Funds.

Today, Nykaa stands as the top company in its niche, compared to similar e-commerce behemoths such as Myntra, Amazon Fashion and offline versions such as Craftsvilla, Faballey. Started by Falguni Nayar in 2012, Nykaa now has spread its network wide by coming up with NykaaDesignStudio, with premium designer wear from renowned designers like Ritu Kumar and Masaba. 

Further, they also came up with NykaaMan, a one stop online retail catering to men's personal care needs including products like hair-care, skincare, wellness, and sport nutrition, among others.