- Participation from Kube VC and renowned angels like Gopal Krishna Varshney and IR Capital Partners highlighted the funding round’s success.
- The raised funds are earmarked for expanding Glamplus’ footprint in tier I & tier II cities and venturing into international markets.
- Glamplus, a SaaS-enabled B2B beauty marketplace, empowers small and medium-sized salons, spas, beauty shops, and supermarkets to streamline their operations and enhance client services efficiently.
- Experiencing a robust 12% growth in the last year, Glamplus currently operates in Karnataka, Chhattisgarh, and Odisha.
- With a goal to serve 1000 B2B beauty clients, including luxury salons, beauty shops, and supermarket chains, Glamplus aims for significant expansion in the next 6 months.
Bengaluru, January 10, 2024: Glamplus, the cutting-edge SaaS-powered B2B Beauty Marketplace, has successfully raised approximately INR 16.5 crores in a pre-Series A funding round. The round was backed by prominent investors such as Upsparks Capital, Eagle10 Ventures, ITI Growth Opportunities Fund, Inflection Point Ventures, Kube VC, Gopal Krishna Varshney, and IR Capital Partners. The substantial funds garnered will be strategically directed towards B2B expansion initiatives, focusing on Tier I and Tier II cities, as well as venturing into international markets.
Glamplus serves as a revolutionary B2B marketplace, empowering salons, spas, and retail beauty chains of all sizes to seamlessly integrate technology into their day-to-day operations. The platform specializes in a diverse range of services tailored to meet the unique needs of its expansive customer base. Leveraging a sophisticated SaaS platform, Glamplus provides state-of-the-art solutions to enhance the efficiency and productivity of its consumers. Additionally, the company facilitates both offline and online beauty product supply to spas, intending to make significant inroads into beauty stores and supermarkets.
Rohan Singh, the Chief Operating Officer of Glamplus, expressed the company’s trajectory toward profitability by Q1 2024. The mission is centered around making a tangible impact on small businesses like salons and beauty stores, offering higher fulfillment, faster deliveries, and competitive pricing through an optimized supply chain that eliminates middlemen. The company’s commitment extends to providing quality, genuine professional products while continually refining the product supply and delivery experience.
Mr. Mitesh Shah, Co-Founder of Inflection Point Ventures, highlighted the challenges faced by small to medium-sized salon and spa owners in managing diverse aspects of their business. In response, Glamplus delivers a comprehensive solution encompassing Employee Management, Appointments, Inventory, Expenses, Campaigns, and Analysis services. In a diverse industry landscape, Glamplus creatively addresses critical needs that have long gone unanswered.
Mohit Gulati, Managing General Partner of ITI Growth Opportunities Fund, commended Glamplus for its pioneering role in automating salon workflows and streamlining inventory procurement. Hosting approximately 32 brands, Glamplus, as an early mover in the industry, is poised to take on the burgeoning B2B beauty market, aligning with the robust growth projections of the Beauty, Personal Care, and Cosmetics (BPC) market in India.
Operational in Karnataka, Chhattisgarh, and Odisha, Glamplus caters to a broad spectrum of clients, ranging from salons to small and medium-sized beauty stores. Recent strategic moves, including the launch of a centralized warehouse, demonstrate the company’s commitment to faster order processing, efficient inventory management, and cost-effective fulfillment. Glamplus has adeptly designed tools for delivery optimization, robust logistics planning, and packaging development.
Having transitioned into the Digital B2B beauty marketplace, Glamplus boasts a listing of over 2000 SKUs, achieving a remarkable 12% annual growth. With a lean team of over 30 members, the company has successfully built a user base exceeding 9500 beauty customer clients and over 6 lakhs B2C customers. In the coming six months, Glamplus aims to extend its reach to 1000 B2B beauty clients, encompassing luxury salons to small-sized parlors, thereby solidifying its position as a key player in the global B2B beauty market.