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Nykaa has raised ₹165 crore in a Series D round from existing investors.
The beauty retailer will use the proceeds to expand its retail footprint. Nykaa also said it expects to be profitable in FY19.
This round includes both primary investment and secondary exit of some early stage investors. Many of the early stage investors such as Hero Corporate Service Chairman Sunil Kant Munjal, family offices of Harsh Mariwala and Dalip Pathak has re-invested in this round.
For the financial year 2017-18, Nykaa reported a revenue of ₹570 crore compared with ₹214 crore for FY 2016-17.
“The focus of Nykaa has always been customer-centricity resting on curation, content and convenience. Advice, education and conversations with our customers are key elements of Nykaa’s philosophy and we have recently launched Nykaa Network to build on our consumer-centricity,” said Falguni Nayar, Founder & CEO, Nykaa.com.
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