Online fashion retailer Nykaa that sells beauty products has raised USD 14.4 million from private equity firm TPG Growth Capital, according to business intelligence firm Paper.vc, Mint reported.
According to the company filings, its post-money valuation raised by 60% to USD 724 million, from USD 450 million during its Series D round if USD 24 million.
Founded in 2012 by Falguni Nayar, an investment banker, Nykaa operates 35 offline stores. Similar to its competitors, Myntra, FabIndia and Craftsvilla, it also took the offline route after starting with online business.
It claims its portal has a catalogue of more than 80,000 products in categories such as make-up, skin care, hair care, fragrances, luxury and wellness products. Apart from listing products of over 700 brands, Nykaa also has its private label products in categories such as nail paints, skin care, etc.
Earlier, it raised money from high networth individuals such as Sunil Kant Munjal, chairman of Hero Enterprise, Harsh Mariwala, TVS Capital, etc.