Online cosmetics and beauty products retailer Nykaa has raised $9 million (Rs. 66.64 crore) in funding from Asia-focused hedge fund Steadview Capital.
Steadview Capital had in April this year infused in Rs. 100 crores in Nykaa. According to the documents filed, Nykaa’s parent entity, FSN E-commerce Pvt. Ltd., has allotted an additional 109,986 equity shares at Rs. 6,049.5 per share to Steadview Capital Mauritius.
Steadview has now invested close to Rs. 170 crore in the company and holds a 3% stake in Nykaa.
In March 2019, Nykaa had raised about $14.4 million from private equity fund TPG Growth. Prior to that, it had secured about $15.8 million from Lighthouse India Fund III Ltd, an affiliate of consumer-focused private equity firm Lighthouse Advisors, in September 2018.
The capital infusion comes at a time when the e-commerce sector has been severely hit by the coronavirus pandemic. Roxanne Anderson (Partner) at AZB & Partners assisted Nykaa in the transaction.
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