GlobalBees, a roll-up e-commerce company, has raised $111.5 million series B funding from Premji Invest, along with the participation of SoftBank, FirstCry, and Steadview Capital.
With this round of funding, GlobalBees is valued at $1.1 billion (unicorn valuation).
In July 2021, the company raised $150 million in a Series A mix of equity and debt, led by FirstCry and other investors.
The company plans to use the funds to strengthen its product portfolio and expedite its product innovation, customer experience, hiring talent and scaling companies.
Globalbees is now over 100 people strong. The company is also in advanced talks with over 20 companies to strengthen its portfolio of digital-first brands.
Speaking on the development, Nitin Agarwal, GlobalBees CEO said, “We have a deep purpose to build meaningful products across industries that address unique consumer needs. With this investment, we are well setup to become India’s largest brand platform. We are an august company of exceptional founders who have built great companies online. With this infusion of capital, we can work together to take these companies global.”
GlobalBees was founded in May 2021 and has a portfolio of companies across Homecare, Beauty and Personal Care, Nutrition & Wellness, Fashion Jewellery, and Eyewear. GlobalBees plans to invest in over 100 brands across verticals in the next three years, including fast-moving consumer goods (FMCG), sports, home organisation, and lifestyle.
The company has offices in Delhi and Bangalore and has developed assets and expertise in marketing, technology, supply chain and logistics and product innovation, among other things.
