Nykaa just Invested in Three Companies this Weekend

On Friday, Falguni Nayar-led e-commerce beauty company Nykaa announced that it invested in three companies. The beauty brand made an investment in clean beauty brand Earth Rhythm, Delhi-based dietary supplements company Nudge Wellness, and athleisure brand KICA. All three investments were approved by Nykaa’s Board Director on April 22, 2022. In Earth Rhythm Private Limited, Falguni Nayar’s company for an amount of ₹41.65 crore has acquired a stake of 18.51%. Earth Rhythm was founded in the year 2018 by Harini Sivakumar. It generated a revenue of ₹18.5 crore (unaudited) in fiscal year 2022. This is almost a four-fold increase from ₹ 5.6 crore earned by the company in the last fiscal year.

The cosmetic company bought 60% stake in Nudge Wellness at a valuation of ₹3.6 crores. Nudge Wellness was founded by Rohit Chawla, Sifat Khurana and Vimal Bhola in 2018. This acquisition marks Nykaa’s entry into dietary supplements and nutricosmetic products sector. In its third deal athleisure brand KICA was acquired by Nykaa for ₹4.51 crore. Kica is an activewear athleisure brand that offers garments on its own website and other e Commerce platforms.