On the heels of raising a $71 million in fresh capital, direct-to-consumer beauty and personal care brand MyGlamm expands into baby care with the acquisition of BabyChakra, India's top parenting platform.
WHO: Six-year-old BabyChakra is an online platform for pregnancy and childcare that lets users connect with other parents and experts and buy relevant services and products. BabyChakra's digital assets and solutions reach over 25 million families and is the first of its kind and the largest parenting and childcare platform in India.
Founded in 2017 by Darpan Sanghvi, MyGlamm is an omnichannel beauty brand offering a range of more than 800 cruelty-free and vegan products across makeup, skincare, and personal care. While it is digital first, MyGlamm also has over 10,000 offline points of sales across 70 cities in India. Last year the brand opened a 3,000-sq-ft interactive flagship that is six times larger than the average Indian beauty store.
WHY: Together, the companies plan to invest INR 100 crore in building India's largest mom-baby content-to-commerce platform over the next 3 years. With BabyChakra joining the MyGlamm portfolio with POPxo collectively, they have a community of 80 million women and have over 220,000 influencers on their platforms.
IN THEIR OWN WORDS: "I am extremely excited about this partnership with MyGlamm and working with Darpan, Priyanka [Gill, MyGlamm co-founder and President] and team as we build India's largest parenting platform," said Naiyya Saggi, founder and CEO of BabyChakra. “MyGlamm is an established leader in the e-commerce ecosystem with a shared value system on how to develop, launch and scale best in class products that cater intuitively to the needs of our consumers. While the Indian Mom and BabyCare market is large and rapidly growing at 15-20 percent CAGR, Indian moms and kids still need products that are truly personalized to their needs. I am also very excited to contribute to the group by leading its overall efforts at building out engaged communities based on a data and product first approach."
Darpan Sanghvi, founder and CEO, MyGlamm, commented, "The Mom-Baby category is one of the fastest growing categories currently in the BPC segment in India. BabyChakra has built an incredible amount of trust amongst parents, through their engaging platform, community and extensive Doctor network. We are thrilled to have Naiyya join the Group as Co-founder and work alongside her to make Baby Chakra the largest Mom-Baby brand and platform in India."
- MyGlamm has acquired parenting platform BabyChakra for an undisclosed sum.
- Naiyya Saggi, founder and CEO of BabyChakra, will join MyGlamm as co-founder and President, charged with leading the Mom-Baby vertical and building the community vertical for the group.
- BabyChakra raised its Series A funding from Round Glass Partners in 2016 and its seed round from Mumbai Angels, the Singapore Angel network, and Arihant Patni in 2015.
- In July 2020, MyGlamm acquired POPxo-Plixxo, making MyGlamm-POPxo-Plixxo the largest content-community-commerce platform in India with 88 million annual female users, with 1.5 billion annual video views and 150,000 influencers onboarded.
- In August 2021, MyGlamm closed a $71 million Series C funding round with a top-up of $47.5 million to the existing $23.5 million it had completed in March of this year.
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