New Delhi-headquartered firm GlobalBees has entered the unicorn club after the recent round of funding. The company has raised about $110 million in a Series B financing round led by Azim Premji. The company is now valued at over $1.1 billion.
Steadview Capital along with existing investors SoftBank and FirstCry also participated in this round. Trifecta Capital also invested $30 million as debt.
GlobalBees is the 2nd unicorn among a group of Thrasio-style ventures. Its biggest competitor Mensa Brands entered the unicorn club last month.
“With this investment, we are well set up to become India’s largest brand platform,” said Nitin Aggarwal, CEO of GlobalBees. “We are in august company of exceptional founders who have built great companies online. With this infusion of capital, we can work together to take these companies global.”
GlobalBees helps small forms scale and sell to marketplaces through different channels in India and other South Asian markets. The company partners and acquires brands across categories such as beauty, personal care, home and kitchen, food and nutrition, and sports and lifestyle. The company helps small brands in growing their sales on e-commerce platforms. Int proves marketing expertise to stand out from the crowd.
GlobalBees is now one of over 40 other India-based startups that joined the unicorn club this year. Several notable investors invested heavily in Indian market in the recent quarter.
