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GlobalBees raises $146 Mn led by SoftBank and FirstCry: Report

Things are shaking up big time in India’s e-commerce roll-up industry. This has been amply proven by the acquisition and funding spree that this new age industry has witnessed over the last few months. This fact was amplified even more strongly after Mensa Brand entered the unicorn club few months back and in the process became India’s youngest unicorn.

Taking this feel-good factor forward, another high-profile e-commerce roll up startup GlobalBees has now raised $146 Mn in a series B round, according to INC42. INC42 has reported that GlobalBees has raised the aftermentioned fund in a round led by FirstCry while host of other big names also participated in the round. These big names include SoftBank, Premji Invest, Steadview Capital, Chiratae Ventures and Trifecta Capital. The funding round is reportedly mix of debt and equity funding.  

It is worth noting that GlobalBees has so far not officially commented on this news report. But if we were to believe this unconfirmed development then Bengaluru based startup has now entered India’s ballooning unicorn club. This development comes nearly five months after GlobalBees raised $150 Mn in a Series A round.

Interestingly, like all other e-commerce roll up startups, GlobalBees is barely a few month old startup. It was launched earlier this year and is headed by Nitin Agarwal. Like its peers and competitors, it acquires promising and popular D2C brands from e-commerce platforms like Flipkart and Amazon. As per company’s official website, it has so far invested in scores of D2C brands including Prolixr, The Better Home, Healthyhey, Rey Naturals among others.

GlobalBees’ prominent competitor Mensa Brand has also acquired slew of D2C brands over the last few months. It acquired denim brand High Star barely 24 hours ago.

Going by the recent frenetic activities in the e-commerce roll-up industry, there is every likelihood that these Thrasio style startups will come on their own in the coming months. We might see a major surge in funding rounds and acquisition activities in the ensuing months.

UpScalio, 10Club and GoatBrand are other prominent players in this industry.   

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