SUGAR Cosmetics Raises ₹145 Cr From A91 at 80% Valuation Cut

4 Sept 2026, 9:40 pm · 8d ago · 1 min read · Inc42

Amount

₹145 Cr

Stage

Series D

Lead

A91 Partners

Direct-to-consumer beauty brand SUGAR Cosmetics has secured ₹144.47 crore ($15.3 million) in a fresh equity funding round from existing backer A91 Partners via A91 Emerging Fund III, according to regulatory filings. The board approved the allotment of 1.12 lakh Series D7 CCPS at ₹12,871 per share on September 1. The transaction values SUGAR at ₹550 crore to ₹600 crore ($58-64 million) post-money, representing a steep 75% to 80% haircut from its previous valuation. In FY25, SUGAR's net loss doubled to ₹135 crore as operating revenue dropped 20% to ₹404.4 crore.