To understand the title first, Sugar Cosmetics is an Indian startup that rapidly increased its presence in the offline market. A husband-wife duo maintains this cosmetic startup. Series C funding aims to prepare a company to be acquired, go public on the stock market, or undergo significant expansion. It is usually the last stage of fundraising a startup goes through.
Sugar Cosmetics did not catch the market’s eye on its initial launch, a clear example of a self-made organization. People do not need to start with a “bang” to be successful. Many times, slow and steady wins the race, which is what happened for Sugar Cosmetics. The color cosmetic brand is organic and does not test on animals. The color cosmetic brand recently gained 100 million dollars and doubled its valuation from its previous round, series A and B. It is double the amount of valuation since 2019.
The organization did a fantastic job during the pandemic, especially considering their majorly focus on offline sales. The executive board of the organization has a deep and robust stand belief on offline marketing and sales. After excellent valuation results, they plan to solidify their core and spend more on R&D. Just like any good cosmetic brand, starting and continuously improving the formulation and base is very important. Another more important thing is having people willing to think outside the box in the team/executive board.
As they go public, the founders will hold only one-third of the company after the funding round. What makes Sugar Cosmetics different is, first, their thinking out of the box ideology. Another would be giving the base/ formulation the time it requires to incubate and not rush into things as soon as they saw other brands’ success. Lastly, finding opportunities and making the best of resources while being safe during a pandemic is an incredible milestone to achieve. The CEO, Vineeta Singh, is passionate and motivates young female entrepreneurs on how to turn fears into wins and be unstoppable.
Footnote:
- https://economictimes.indiatimes.com/tech/startups/sugar-cosmetics-closes-series-c-funding-round-valuation-doubles/articleshow/80694416.cms
- https://economictimes.indiatimes.com/tech/startups/rajnath-singh-announces-winners-of-defence-india-startup-challenge/articleshow/80711212.cms
