SoftBank-backed GlobalBees Brands Pvt Ltd, a Thrasio-style direct-to-consumer (D2C) venture that aggregates and invests in e-commerce brands, has raised $111.5 in its Series B funding round led by Premji Invest at unicorn valuation, the company said in a statement on Wednesday.
Unicorns are private companies with a valuation of $1 billion or more.
Steadview Capital, along with existing investors SoftBank and ecommerce baby products company FirstCry participated in the funding round, the company said. The transaction values GlobalBees at $1.1 billion, making it the 44th Indian company to join the unicorn club in 2021.
VCCircle reported in October that GlobalBees was in talks to raise $300 million in a round led by SoftBank, and with participation from homegrown private equity firm ChrysCapital at a valuation of a little more than $1 billion.
Read more/Source: VC Circle
