Sugar Cosmetics gets $4.5 million funding
Mumbai-based D2C beauty brand Sugar Cosmetics is raising INR 38 crore ($4.5 million) from existing investors including Anicut Equity Continuum Fund, Elevation Capital, Malabar Investments and L Catterton.
The round follows Malabar Investments’ INR 80 crore stake acquisition last year, and hints of a possible secondary transaction in 2024. SUGAR’s FY24 financials showed a 20% rise in revenue to INR 505.1 crore and an 11% narrowing of losses to INR 67.6 crore. Founded in 2015 by Vineeta Singh and Kaushik Mukherjee, the startup has raised about $90 million to date and has a presence in over 45,000 retail stores across India.
The funds will be used primarily to scale its skincare line, Quench Botanics, and expand distribution of its affordable cosmetics sub-brand, SUGAR POP.
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2026-09-18
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