The funding round was led by the Michael and Susan Dell Foundation with wider participation from existing investors including YourNest, Spearhead Capital, 9Unicorns, and AccionVenture Lab
The absence of a prominent leader other than Nykaa in the online space offers Reliance Retail's Tira brand sufficient headroom to position itself as a strong contender in India's burgeoning beauty and personal care industry
The company is seeking funding for aggressive expansion and production, with National Infrastructure Investment Fund and a US-based fund among those likely to participate
The fund-raise will be deployed to expand its presence and outreach to Indian students enabling them to fulfil academic aspirations and lead the development of the Indian education ecosystem.
The additional capital raised will be deployed towards scaling the existing business and diversifying its product offering by venturing into digitally enabled financial products
