India’s GlobalBees Raises $150 Million to Build Thrasio-like House of Brands
By Manish Singh
The universe of Indian firms attempting to replicate Thrasio’s success in the world’s second-largest internet market just got bigger. Three-month-old GlobalBees said on Monday it has raised $150 million in a Series A financing round led by FirstCry.
Lightspeed Venture Partners also invested in the new financing round, which is $75 million in equity and $75 million in debt. Even with a $75 million equity raise, Monday’s announcement makes GlobalBees’ round the largest Series A funding in India.
Founded by Nitin Agarwal, formerly of Edelweiss Financial, and Supam Maheshwari, a founder of FirstCry, GlobalBees acquires and partners with digitally native brands across categories such as beauty, personal care, home and kitchen, food and nutrition, and sports and lifestyle with a revenue rate of $1 million to $20 million.
Photo courtesy of Ashwini Chaudhary.
Source: TechCrunch (link opens in a new window)
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