The TVS and Max Group-backed cosmetics e-commerce platform has received $13.3m from Steadview despite shutting down during the coronavirus pandemic.
Alternative asset manager Steadview Capital Management has invested Rs 1bn ($13.3m) in Nykaa, an India-based online cosmetics and wellness product retailer backed by conglomerates Max Group and TVS, Entrackr reported yesterday.
Nykaa is the owner of an online platform that sells items such as make-up, beauty appliances, fragrances, skincare, haircare and maternity products.
The company had originally targeted funding from investors including telecommunications and internet conglomerate SoftBank at a valuation of about $1.2bn according to Entrackr, but has suspended operations…
