India: Beauty products e-tailer Nykaa in talks to raise $200m from SoftBank

Nykaa founder Falguni Nayar with her team. Photo: Abhijit Bhatlekar/Mint

Nykaa, the online retailer of fashion and beauty products, is in early talks with Japan’s SoftBank Group Corp. to raise $150-200 million, according to two people aware of the development.

The latest funding round, if it goes through, will take Nykaa’s valuation to anywhere from $700 million to $800 million. It will also be the first foreign investment into the company, which has so far raised capital only from Indian funds and investors.

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