[Funding Alert] SUGAR Cosmetics Gets $2 Million Debt Funding From Stride Ventures In FY2020, the company clocked net revenue of INR 105 crore

By Prabhjeet Bhatla

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.


Stride Ventures led a debt round of $2 million in SUGAR Cosmetics. This is Stride Ventures' tenth investment from its maiden fund and marks its first foray into the lifestyle segment. The investment in Mumbai-based cosmetic startup SUGAR reinforces Stride's continuing preference for homegrown startups that have shown strong company fundamentals.

A statement said that the makeup startup's hybrid approach with a six-times jump in revenues in two years and a robust online as well as offline presence across 2,400 outlets in over 130 cities and strong brand loyalty makes it an attractive proposition.

"In a fiercely competitive landscape, SUGAR has managed to stand apart in a short span of time. Their branding, market strategy, and offering of affordable premium products greatly appeal to the growing younger demographic. The brand has quickly become a household name in the lifestyle segment and we are excited to partner with them in their journey," said Stride Ventures founder and managing partner Ishpreet Gandhi, commenting on the funding.

Launched in 2015 by IIM graduates Vineeta Singh and Kaushik Mukherjee, the startup will strategically deploy the fund to keep pace with working capital and inventory requirements and fuel aggressive growth through the peak sales season with the brand bouncing back past its pre-COVID peak.

"SUGAR plays in a high gross margin category which makes debt a fantastic choice for us. With superior product-market fit and long-term growth appetite, we are excited about working with Stride and their partner private bank and announce $2 million as the first tranche of the Series C funding that we hope to close later this year," added SUGAR Cosmetics co-founder and chief executive officer Singh.

Prabhjeet Bhatla

Former Staff

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Related Topics


International Security Firm Welcomes Female India Native to an Essential Leadership Position

Yasmin Brar has been appointed as the Operations Strategy Director, a role that underscores the company's commitment to innovation, expansion, and strategic management


The Deeptech Innovator: Aman Singh, Co-Founder & Head of Analytics, Intangles

Their next trigger of growth centres around expanding presence and offerings in the global market

Growing a Business

How to Bridge the Gap Between Aspirations and Reality in Business

Bringing a vision to life requires a good dose of self-honesty and a multi-year plan for incremental progress.

Business Ideas

55 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

News and Trends

Kaynes Semicon To Invest INR 4,000 Crore On OSAT/ATMP

The investment is expected to create around 1,000-plus jobs

Business Solutions

Stay Organized with This Task Management Tool, on Sale for $30

A Study Planr Pro subscription is just $30 for life.