SaaS-enabled B2B beauty marketplace Glamplus raises Rs 16.5Cr in a pre-Series A round

Glamplus, a SaaS-enabled B2B Beauty Marketplace, has raised approx Rs 16.5 crore in a pre-series A funding round from Upsparks Capital, Eagle10 Ventures, ITI Growth Opportunities Fund and Inflection Point Ventures. 

The round also saw participation from Kube VC and other marquee investors, including Gopal Krishna Varshney and IR capital partners.

Venturing into international markets 

According to the startup, the raised capital would be used for B2B expansion in Tier I & Tier II cities and to venture into International markets. 

Mitesh Shah, Co-Founder, Inflection Point Ventures, said, “What team size and cash on hand is needed to oversee business operations, manage inventory, handle customer relations, and maintain an online presence while balancing responsibilities as a small to medium-sized salon/spa owner? Recognizing this challenge, Glamplus offers a comprehensive solution by providing Employee Management, Appointments, Inventory, Expenses, Campaigns, and Analysis services. In an industry saturated with businesses of varying classes, from high-end to low-end, Glamplus creatively addresses a critical need that has long gone unanswered."

Assisting in to adoption of technology

Glamplus is a B2B marketplace that assists and allows small, medium and large salons/spas/retail beauty chains to adopt technology for running their day-to-day operations more efficiently.

The startup specialises in a spectrum of services tailored to meet the diverse needs of its customer base.

It has built a SaaS platform that offers state-of-the-art solutions to optimize the efficiency and productivity of its consumers. Glamplus also provides offline & online supplies of beauty products, professionals and personal care to chains of spas, aiming for expansion and market entry into beauty product supply in beauty stores and supermarkets. 

Focused on profitability  

Rohan Singh, Chief Operating Officer of Glamplus, said, “We are on a path to profitability by Q1 24 by creating an impact and reaching small businesses like salons and beauty stores where they can avail higher fulfilment, faster deliveries and better pricing due to optimized supply chain with no middlemen."

Rohan said the startup is also focused on providing quality, genuine professional products and optimising product supply & delivery experience.

Mohit Gulati, Managing General Partner, ITI growth opportunities fund, said, “Being an early mover in the industry, Glamplus has helped automate salon workflow and minimise unorganised inventory procurement by providing better rates and quick delivery time. It currently hosts around 32 brands."

Mohit further said the BPC market in India reached $26.3 billion in 2022 and is expected to reach $38.0 billion by 2028.

"Glamplus team is well versed in the salon space and have resiliently built the company’s business strategy from the ground up and are scaling operations successfully across cities. Glamplus is well-positioned to take on the B2B beauty market across India and the globe," he added.

Glamplus presence 

Glamplus is currently operational in Karnataka, Chhattisgarh and Odisha, catering to clients from salons to small and medium-sized beauty stores.

The startup recently launched a centralised warehouse to facilitate faster order processing, inventory management, and fulfilment, minimising shipping times and costs while ensuring quicker delivery to customers. It has also designed efficient tools for optimization of delivery, better logistics plans and packaging development.

 Pivot to digital B2B beauty marketplace 

Glamplus pivoted into the Digital B2B beauty marketplace and has listed over 2000 SKUs registering a 12% growth annually. With over a 30-member lean team, Glamplus has built a user base of more than 9500 beauty customer clients and over 6 lakh B2C customers. 

It aims to cater to 1000 B2B beauty clients spanning from luxury salons to small-sized parlours in the next 6 months.

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