Online beauty and skincare retailer Nykaa has closed its latest financing round led by TPG Growth. The mid-market investing arm of private equity major TPG Capital. The company’s valuation is expected to have topped Rs 5,000 crore, a jump of around 70% from last year when it raised capital.
The e-commerce retailer has now also picked around Rs 100 crore in primary funding capital from TPG Growth.
News first reported on Nykaa’s fundraise being led by TPG in its February 22 edition. Nykaa has emerged among the top vertical e-commerce players dominating the domestic beauty market as the likes of Amazon and Flipkart lagged behind in this segment. The big e-commerce companies have historically focused on GMV-driving categories like electronics, apparel and in recent times grocery.
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