SUGAR Cosmetics Raises ₹145 Cr From A91 At A Near 80% Valuation Cut

D2C beauty and personal brand SUGAR Cosmetics has raised ₹144.47 Cr ($15.3 Mn) in a fresh equity round from VC firm A91 Partners, as per the startup’s MCA filings accessed by Inc42. It allotted 1.12 Lakh Series D7 CCPS to A91’s entity A91 Emerging Fund III at an issue price of ₹12,871. The CCPS will compulsorily convert into equity shares upon listing of the startup or one day prior to the expiry of 20 years from issue date.