In its recently concluded angel funding round, Glam Studios, an online budget salon aggregator, has secured US $300K funding from a pool of angel investors. In its official statement, Glam Online Pvt. Ltd., company that owns the startup, has divulged that fresh amount will be utilized in expanding the its reach and enhancing its technology.
The statement further revealed that the funding round was headed by Pradeep Mirani and was followed by existing investors such as Aqeel Ahmed, Anand Ladsariya, Nitin Agarwal and others. The round was organised by I Plan Wealth Management.
Mirani is the owner of the Shagun Group while Ahmed is COO at Noida-based RateGain IT Solutions Pvt. Ltd., which runs a SaaS-based software solutions deck for travel and hospitality industry. Ladsariya is the founder of Mumbai-based fragrances and flavours maker Everest Flavours Ltd.
Elaborating on the round, Sadiya Naseem, Founder &CEO, Glam Studios stated that receiving funding from some of the most astute investors in the country vindicates company’s business strategy and boosts its confidence.
Earlier in February, Glam Studios had raised and undisclosed amount of funding which was deployed in increasing its salon numbers to 40 and to create a cloud-based salon management system. The startup was conceptualised in October 2015 by IIM-Calcutta alumnus Sadiya, who previously worked with budget hotels aggregator OYO Rooms. The founding team comprises COO Darakhshan Husain, a fashion management graduate from NIFT, and CTO Feeroz, an IIT-Delhi alumnus.
