Sugar Cosmetics secures ₹145 cr from A91 at steep valuation drop
Direct-to-consumer beauty brand Sugar Cosmetics has raised ₹144.47 crore ($15.3 million) in a fresh equity round from A91 Partners. The funding, disclosed in MCA filings, involved issuing 1.12 lakh Series D7 compulsorily convertible preference shares at ₹12,898 each, marking a significant valuation reduction from previous rounds.
Sources: msn.com
“The steep valuation cut suggests investor caution in the D2C beauty space, reflecting broader market corrections for growth-stage startups after rapid pandemic-era expansion.”
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