French beauty products maker L'Occitane has invested $6 million funding round in Mumbai-based on-demand beauty services startup MyGlamm, with participation from existing investor Tano Capital and Times Group-led Brand Capital. The raised funding will be used by the startup to expand into new cities across the country and even overseas.
MyGlamm is also in talks to raise another $4 million from a large Indian consumer internet company. Founded in 2015 by Darpan Sanghvi, MyGlamm offers a broad variety of services from the latest international trends in hair, nail, skin and beauty to taking care of basic grooming needs.
To ensure consumer's get the best Artists and beauty treatments, the startup has launched Artist Incubators where Artists get trained and incubated before being on-boarded on MyGlamm. It features well trained artists who are verified with complete background checks. The company has also launched its app for Android and iOS users.
“This is the first instance globally of a beauty company investing in a tech-enabled startup in the space,” said Sanghvi. “The strategic support of L’Occitane in our growth will also be a big differentiator over the competition.”
Sanghvi also runs offline beauty and wellness business under another company called Sanghvi Brands, which has the master franchise of L'Occitane Spa and other salons and spas like Warren Tricomi, Elle Spa & Salons and Holyfield Gyms.
Indian startups like Vyomo, StayGlad, Zapluk and BigStylist among others, have also raised funding last year in this space.
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