Beauty marketplace Glamplus raises Rs 16.5 crore in pre-series A round funding

Business to business beauty marketplace Glamplus has raised Rs 16.5 crore in pre-series A round funding from a range of investors including Upsparks Capital and plans to use the capital to further expand into Tier 1 and 2 cities as well as international markets. 

“We are on a path to profitability by Q1 24 by creating an impact and reaching small business like salon[s] and beauty stores where they can avail higher fulfilment, faster deliveries and better pricing due to optimised supply chain with no middlemen,” said Glamplus’ chief operating officer Rohan Singh in a press release. “Our focus is also on providing quality, genuine professional products.  We are also optimising our product supply and delivery experience.”
 
Over the past 12 months, Glamplus has grown by 12% and the business is currently operating in Karnataka, Chhattisgarh and Odisha. Glamplus’ target is to cater to 1,000 clients in the next six months. 

“What team size and cash on hand is needed to oversee business operations, manage inventory, handle customer relations, and maintain an online presence while balancing responsibilities as a small to medium-sized salon/spa owner? Recognising this challenge, Glamplus offers a comprehensive solution by providing employee management, appointments, inventory, expenses, campaigns, and analysis services,” said Inflection Point Ventures’ co-founder Mitesh Shah. “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 saw participation in its funding round from Upsparks Capital, Eagle10 Ventures, ITI Growth Opportunities Fund, and Inflection Point Ventures. The round also saw investments from Kube VC and other marquee investors including Gopal Krishna Varshney and IR capital partners.
 
“Being an early mover in the industry, Glamplus has helped automate salon workflow and minimise unorganised inventory procurement by providing better rates and quick delivery time,” said ITI growth opportunities fund’s managing general partner Mohit Gulati. “It currently hosts around 32 brands. The BPC market in India reached $26.3 billion in 2022 and is expected to reach $38.0 billion by 2028. Glamplus team is well versed in the salon space and have resiliently built the company’s business strategy from the ground up and are scaling operations successfully across cities. Glamplus is well-positioned to take on the B2B beauty market across India and the globe.”