Glamplus, a SaaS-enabled B2B beauty marketplace, has successfully raised approximately Rs 16.5 crore in a pre-Series A funding round.
The funding was led by Upsparks Capital, Eagle10 Ventures, ITI Growth Opportunities Fund, and Inflection Point Ventures, with participation from Kube VC and other prominent investors, including Gopal Krishna Varshney and IR Capital Partners.
International Expansion and B2B Growth:
Glamplus plans to utilize the raised capital to fuel its B2B expansion in Tier I and Tier II cities and to enter international markets. The startup aims to offer its comprehensive solutions to small, medium, and large salons, spas, and retail beauty chains for more efficient day-to-day operations.
SaaS Platform and Beauty Product Supply:
Glamplus specializes in a range of services to meet the diverse needs of its customer base. The startup has developed a SaaS platform that optimizes efficiency and productivity for businesses in the beauty industry. Additionally, Glamplus provides offline and online supplies of beauty products, professionals, and personal care to spas and beauty stores, aiming for market entry into beauty product supply in supermarkets.
Path to Profitability:
Rohan Singh, Chief Operating Officer of Glamplus, stated that the startup is on a path to profitability by Q1 2024. It focuses on reaching small businesses in the beauty sector, providing higher fulfillment, faster deliveries, and better pricing through an optimized supply chain with no middlemen.
Market Presence and Expansion:
Glamplus is currently operational in Karnataka, Chhattisgarh, and Odisha, serving clients from salons to small and medium-sized beauty stores. The startup recently launched a centralized warehouse for faster order processing, inventory management, and fulfillment. Glamplus aims to cater to 1000 B2B beauty clients, ranging from luxury salons to small parlors, in the next six months.
Digital Transformation:
Having pivoted into a digital B2B beauty marketplace, Glamplus has listed over 2000 SKUs, registering a 12% annual growth. With a lean team of over 30 members, the startup has built a user base of more than 9500 beauty customer clients and over 6 lakh B2C customers.