Beauty retailer Nykaa raises Rs 1.65 bn in series D funding

The proceeds will help to fund growth capital as well as expand the retail footprint of the brand.

Beauty retailer Nykaa has closed its series D investment round of Rs 1.65 billion. This includes both primary investment and secondary exit of some early-stage investors. The funding will help to fund growth capital as well as expand the retail footprint of the brand. For the financial year 2017-18, Nykaa reported a net revenue of Rs 5.70 billion as compared to Rs 2.14 billion in FY17. The company expects to be profitable in FY19.

Many of the early stage investors including Sunil Kant Munjal, Chairman, Hero Corporate Service P Ltd, the family offices of Harsh Mariwala and Dalip Pathak, private equity