Delhi-based Glam Studios, an online aggregator of budget salons, has secured Rs 2 crore ($300,000) in funding from a bunch of angel investors.
Glam Online Pvt. Ltd, the company behind the startup, said in a statement it will deploy the funds to expand its operations and ramp up technology.
It said that the funding was raised from Pradeep Mirani and existing investors Aqeel Ahmed, Anand Ladsariya, Nitin Agarwal and others. The round was organised by I Plan Wealth Management.
Mirani is the owner of the Shagun Group while Ahmed is COO at Noida-based RateGain IT Solutions Pvt. Ltd., which runs a SaaS-based software solutions deck for travel and hospitality industry. Ladsariya is the founder of Mumbai-based fragrances and flavours maker Everest Flavours Ltd.
“Receiving funding from some of the most astute investors in the country vindicates our business strategy and boosts our confidence,” said Sadiya Naseem, founder and CEO of Glam Studios.
Glam Studios had, in February, received an undisclosed amount of seed funding to scale the brand to 40 salons and create a cloud-based salon management system.
The startup was conceptualised in October 2015 by IIM-Calcutta alumnus Sadiya, who previously worked with budget hotels aggregator OYO Rooms. The founding team comprises COO Darakhshan Husain, a fashion management graduate from NIFT, and CTO Feeroz, an IIT-Delhi alumnus.
The startup claims to have served more than 6,000 clients and sold 1,000 yearly memberships in the first six months of operations. It has 40 operational salons in Delhi-NCR. The company enables salons as small as 500 sq ft to sign up on its platform without any capital expenditure.
“We… plan to have more than 500 salons on the tech-backed platform by the end of this financial year,” said Sadiya.
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