Direct-to-consumer (D2C) beauty and personal care brand Sugar Cosmetics has raised $50 million led by L Catterton with participation from existing investors A91 Partners, Elevation Capital, and India Quotient.
Sugar raised $21 million in February 2021 led by Elevation Capital, formerly SAIF Partners.
The color cosmetics brand was valued at more than $100 million.
The Mumbai-based company had kickstarted its funding journey with $2 million from venture debt fund Stride Ventures in October 2020.
It raised other amounts from A91 Partners in March 2019.
Sugar said it was scaling up its physical presence to over 40,000 retail outlets across 550 cities.
Founded in 2012 by husband-wife duo Vineeta Singh and Kaushik Mukherjee, Sugar focuses on having both online and offline sales channels.
Sugar’s lead investor in the round, L Catterton, has experience investing globally in the beauty and personal care space and has backed the likes of US-based beauty brDands Makiage, Intercos, The Honest Company, and Tula among others.
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