Vineeta Singh Sugar Cosmetics Raises $50 Million

Sugar Cosmetics, helmed by Vineeta Singh, revealed on Tuesday that it had secured $50 million (388 crores) in a round led by L Catterton, a consumer-focused private equity firm. Sugar's Series D round, in which existing investors such as A91 Partners, Elevation Capital, and India Quotient participated, included the investment. With this investment, Anjana Sasidharan, Managing Director of L Catterton Asia, will join the Sugar Cosmetics board.

“We have been impressed with how Sugar has sustained its momentum of rapid growth across online and offline channels while maintaining healthy operating metrics. With a product-first mindset and deep understanding of their target consumers, Sugar’s leadership team has established a strong position in India’s cosmetics market, which is at an exciting inflection point of expansion,” Sasidharan said.

L Catterton has also invested in several beauty and personal care firms such as Il Makiage, Intercos, The Honest Company, TULA, Bliss, Ci FLAVORS, ELEMIS, ETVOS, Function of Beauty, Marubi, MERIT, and Sociolla.

Sugar Cosmetics intends to use this funding to rapidly expand in the Indian beauty and personal care sector. It hopes that collaboration with L Catterton, which works with 20 beauty and personal care brands in America, Europe, and Asia, will help it expand.