GlobalBees, founded in 2021 by Nitin Agarwal, is a platform which assists businesses listed on third party websites such as Amazon and Flipkart with scale and revenue development. It partners with entrepreneurs who have built an online-first business and scale up their D2C businesses in India and abroad. Apart from this, it also helps brands in marketing, supply chain, R&D, and operations.
The Delhi-based company has raised a total of Rs 2180.21 crore over 4 funding rounds. Its latest round, Series B, was held in 2022 and raised Rs 2180.21 crore. The company has seen investments from Trifecta Capital, FirstCry, Premji Invest, Chiratae Ventures, Lightspeed Venture Partners among others.
Among its investors, FirstCry holds more than 50% of the company’s shares. Premji Invest has around 7%, Lightspeed close to 6.5%, and Nithin Agarwal has close to 6% of GlobalBees’ shares, according to startup data platform TheKredible.
With a valuation of Rs 8666 crore, the company recorded a revenue of Rs 36.26 crore out of which 50% was from operating revenue in FY22. It saw expenses hitting Rs 66.31 crore and a loss of Rs 30.08 crore. Over 30% of its expenses of the year were spent on employee benefits. The same financial year, Globalbees logged an EBITDA margin of -52.39% and its ROCE was at -0.97%.
The e-commerce company has till date made one investment in Candes in 2022. Its acquisition journey started from taking control over The Better Home in 2021 to acquiring Reach Fitness in 2022. During this two-year acquisition period, it made a total of 12 deals which included companies like Strauss, Rey Naturals, Mush, and Prolixr.
GlobalBees turned unicorn a mere seven months after its inception. Having raised over $110 million from Premji Invest, Steadview Capital and existing investors like SoftBank and FirstCry, the e-commerce giant joined the unicorn club with a valuation of $1.1 billion.
GlobalBees locally competes against Bengaluru-based Mensa Brands, Goat Brands, Evenflow, and 10club.