GlobalBees, a Thrasio-style startup, has secured more than $110 million in a round led by Premji Invest, with participation from new investors, Steadview Capital, and previous investors SoftBank and FirstCry, among others, according to a statement shared with ET by the business. GlobalBees’ valuation has climbed to $1.1 billion due to the transaction.
The money will be used to expand the company’s product portfolio and product innovation and improve customer experience, hire people, and scale the business. According to the reports obtained through business intelligence platform Tofler, Trifecta Capital has also invested $30 million in loans in the venture.
“With this investment, we are well set up to become India’s largest brand platfor. 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,”Nitin Aggarwal, CEO of GlobalBees
GlobalBees stated that it required additional capital “for the growth and expansion of its business and for general corporate purposes.” In April, the startup raised $150 million in a Series A round led by FirstCry, SoftBank, and PremjiInvest, with half of the money coming from debt.
Yellow Chimes, a fashion jewelry brand; Absorbia, a home care brand; The Better Home, a sustainable home care goods firm; AndMe, a women’s health solutions company, are GlobalBees’ investments.