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Stellaris and Abhaya also invested in the latest round.
Nykaa said the funding is largely from existing investors, including Hero Group’s Sunil Munjal, and family offices of Harsh Mariwala and Dalip Pathak.
The deal is the third from Alteria Capital’s first fund launched in October. Previously, it has invested in food start-up Fingerlix and apparel maker Universal Sportsbiz.
SAIF Partners, Sequoia India, Aspada Investments, Creation Investments Capital Management and Ribbit Capital are institutional investors in the company.
The funds will support the expansion of its flagship Utter App, a chatbot-style mobile learning app aimed at imparting English and on-the-job productivity skills to a digital blue-collar workforce.
Shailesh Rao, a senior advisor at TPG Global and McKinsey & Co, and Newquest Capital founding partner Amit Gupta took part in the round.
Unitus Seed Fund had put $1m in DriveU in February 2016., a year after the startup was founded.
Exfinity is investing from its second fund of Rs300 crore.
Pepperfry chief executive Ambareesh Murty said the company will use the funds to expand its supply chain, invest in technology and open new stores.
The investment from Cisco Investments, the corporate venture arm of the US-based firm, comes a month after the firm invested in Stellaris Ventures Partners.