Nykaa raises Rs 100 crore from existing investor Steadview Capital
Omnichannel lifestyle retailer Nykaa has secured Rs 100 crore in
funding from its existing investor UK-based Steadview Capital as a primary
investment.
This comes as the Mumbai-based
cosmetic retailer scaled down operations, focussing only on daily essentials,
amid countrywide lockdown on account of the Covid-19 outbreak.
"Please note we are only accepting
prepaid orders for now on daily essentials," the company's website said.
"We have started deliveries to
select pin codes in Mumbai, Pune, Delhi and Bangalore," Nykaa said
customers may experience delays in delivery due to local constraints and it was
working to restart deliveries in other cities.
"We are very grateful to achieve
this significant milestone. We deeply value the trust and support of our
investors, customers and brand partners who have been instrumental to our
success," said Falguni Nayar, founder and chief executive officer, Nykaa
on the funding development.
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