The beauty retailer added $11.2m to a round now sized at $25.5m, on the heels of 2016 investments from Max Group and TCL.

Nykaa, an India-based beauty retailer backed by conglomerates Max Group and TVS Group, has added Rs 750m ($11.2m) to a funding round now sized at $25.5m, the Economic Times has reported.

The round, which values Nykaa at $449m, was co-led by private investor Dalip Pathak and the family offices of Sunil Munjal and Harsh Mariwala.

The company had initially raised $14.2m through primary and secondary transactions, enabling some existing investors to enlarge their stake while at least three others reduced…