Hyderabad-based online startup, GlamEgo, which offers beauty box through subscription, has raised $500,000 (~Rs. 3.5 crores) in its first external funding. Post the fundraise, the valuation of GlamEgo stands at Rs 30 crore, reported Telangana Today.
The startup plans to use the funds to double its brand offerings from 100 plus to 200 plus by end of 2019.
Incubated at T-hub Hyderabad, GlamEgo provides customized subscription service to those looking for beauty cosmetics at affordable prices ranging approximately at cost of Rs 1,500 - Rs 2,000 for premium brands and Rs 399 for niche brands.