GlobalBees, which organized one of the largest Series A financing rounds in India earlier this year. has entered the unicorn club As the New Delhi-headquartered company scales up a brand similar to Thrasio.
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Premji Invest, an investment firm regulated by Indian businessman Azim Premji, is leading the 9-month-old startup's Series B financing round, a young firm disclosed in its regulatory filing. The round is estimated at $110 million. GlobalBees is valued at more than $1.1 billion.
Steadview Capital and current investors SoftBank and FirstCry also participated in the $110 million equity round, with Trifecta Capital investing an additional $30 million in debt in the new round.
Founded by Nitin Agarwal, formerly of Edelweiss Financial, and FirstCry founder Supam Maheshwari, GlobalBees has acquired and partnered with digital brands in categories such as beauty, personal care, and personal care. house and kitchen Food and Nutrition, Sports and Lifestyle, with a revenue rate of $1 million to $20 million.
GlobalBees helps these companies scale and sell to markets and through other channels. in India and outside the South Asian market.We have built and engaged with brands in the past and realized that most of these brands have reached levels after being too difficult to scale,” Agarwal told TechCrunch in an interview earlier this year.
