Stride Ventures leads USD 2 mn debt round in SUGAR Cosmetics

The fund has partnered with one of India's leading private banks for this deal and is committed to being a strategic partner in SUGAR's growth journey with their customized offerings and deep relationships across banks and corporates, a statement said. This is Stride Ventures' tenth investment from its maiden fund and marks its first foray into the lifestyle segment, it added.

Stride Ventures on Wednesday said it has led a debt round of USD 2 million in SUGAR Cosmetics. The fund has partnered with one of India's leading private banks for this deal and is committed to being a strategic partner in SUGAR's growth journey with their customized offerings and deep relationships across banks and corporates, a statement said.

This is Stride Ventures' tenth investment from its maiden fund and marks its first foray into the lifestyle segment, it added. Launched in 2015 by Vineeta Singh and Kaushik Mukherjee, SUGAR Cosmetics has seen a 6X jump in revenues in two years and has a robust online as well as offline presence across 2,400 outlets in over 130 cities. In FY20, the company clocked net revenues of Rs 105 crore. Stride Ventures launched its maiden fund in 2019 and plans to invest in 25-30 start-ups for Stride Venture India Fund I. * * * * Amazon adds new emporiums on its platform during 'Great Indian Festival' Amazon.in on Wednesday announced the launch of multiple sellers associated with West Bengal Khadi and Village Industries Board (Gramin), Khadi and Village Industries Board (Vindhya Valley from Madhya Pradesh), and West Bengal Handicrafts Development Corporation (MANJUSHA). The launch of these sellers on Amazon.in will have a significant impact on the lives of more than 40,000 artisans and weavers from Madhya Pradesh and West Bengal, a statement said. At launch, over 500 unique products will be available with additional selection to be added in the coming days, it added.

The launch will enable sellers associated with three emporiums with an opportunity to showcase unique products like khadi sarees, khadi jackets, jewelry boxes, jute handbags, shirts, dupattas, home decor as well as homemade dry masalas to millions of Amazon.in customers. "Artisans and weavers comprise an important section of our seller community...With the festive season coming closer, it is an ideal time for bringing these emporiums on Amazon.in," Pranav Bhasin, Director- MSME and Seller Experience at Amazon India said..