Hyderabad-based GlamEgo Raises $500K in External Funding

GlamEgo, offering beauty box through subscription, has raised $500,000 in its first external funding. Post the fundraise, the valuation of the Hyderabad-based online startup stands at Rs 30 crore.

The fresh capital will be used by the company to double its brand offerings from 100 plus to 200 plus by the end of 2019.

Founded by Lavanya Sunkari and Prabhakar Darakapalli in 2017, GlamEgo offers customized subscription service to those looking for beauty cosmetics at affordable prices ranging approximately from Rs 1,500 – Rs 2,000 for premium brands and Rs 399 for niche brands. Subscribers will be receiving a set of cosmetics and skin care products each month as chosen by the company, based on their preferences.

Lavanya, CEO and Co-Founder of Glamego, said, "We deliver all over India and have an automated delivery system in place for over 38,000 pin codes. We plan to get on-board premium brands like Startstruck by Sunny Leone, Votre, Jovees and Palmers."