One of India's largest and fastest-growing omnichannel beauty companies, Sugar Cosmetics, has received $4.5 million in funding from existing investors.WHO: Mumbai-based Sugar Cosmetics was founded in 2015 by Vineeta Singh and Kaushik Mukherjee as a direct-to-consumer beauty brand with products specifically created to suit Indian skin tones. The business has grown from an online-only brand to a major omnichannel presence with over 45,000 retail stores across India.WHY: The fresh capital will be allocated to scale Quench Botanics, a Korean skincare brand the company launched last year with Kareena Kapoor, and to expand distribution for its affordable cosmetics sub-brand Sugar Pop.IN THEIR OWN WORDS: Kaushik Mukherjee, co-founder and COO of Sugar Cosmetics, emphasized the company’s vision for growth in FY25: “Our focus in FY25 is on scaling Quench Botanics and building the distribution for Sugar Pop. Both have shown strong growth potential over the past few months.”Mukherjee said, “Our investments in FY25 are largely targeted towards scaling our skincare brand Quench Botanics that has seen strong traction in quick commerce and other ecommerce portals in the past six months. We have also earmarked some capital to build distribution for our more affordable range of color cosmetics under the Sugar Pop sub-brand.”DETAILS:Sugar Cosmetics raised INR 38 Cr ($4.5 million) from existing investors Anicut Equity Continuum Fund, Elevation Capital, Malabar Investment, and L Catterton. The fresh round of funding valuation was flat compared to its $50 million fundraising effort in 2022.The brand recorded impressive growth in FY24, with a 20% revenue increase.