Amazon shops in India, picks up stake in MyGlamm

In a first, Amazon has invested in an Indian consumer brand MyGlamm. Reports indicate that beauty brand MyGlamm has raised Rs 175 crore in a Series C funding round led by Ascent Capital, Amazon and Wipro Consumer.

Amazon has invested in insurtech startup Acko, financial services marketplace BankBazaar, on-demand services provider Housejoy  but this marks the foray into consumer brands in India. 

MyGlamm has raised Rs 300 crore since it's start up in 2017. The latest round values it at over $100 mn.