GlobalBees Brands, a Thrasio-style direct-to-consumer (D2C) company that invests in e-commerce brands on Wednesday said, it has raised $111.5 million in its Series B funding round led by SoftBank and Premji Invest.
According to a report by Inc42, GlobalBees raised a mix of equity and debt in a Series B round of investment led by its existing investors SoftBank, Premji Invest, Chiratae Ventures, Trifecta Capital and others.
The fresh investment comes after five months after GlobalBees raised its largest Series funding worth $150 million. The investment came from Lightspeed Ventures and FirstCry.
With the latest round of funding, the transaction values the company at $1.1 billion making it the 44th Indian venture to join the Unicorn Club. Unicorn is a term used in the venture capital industry to describe a company with a value of over $1 billion or more.
The company said it plans to use the proceeds to strengthen its product portfolio and also use the money for Research and Development, improve customer experience, acquire talent and scale brands that it owns. The company further added it is in advanced talks with 20 companies to acquire their brands.
GlobalBees was founded in May 2021, making it one of the fastest unicorns, and has acquired brands across categories ranging from homecare, beauty and personal care and nutrition and Wellness and others