Latest news with #ProsusVentures
Time of India
5 days ago
- Business
- Time of India
Inside Good Glamm's collapse: A timeline of how the crisis unfolded
Academy Empower your mind, elevate your skills Sukhleen Aneja, CEO of The Good Brands (D2C vertical), joins Nykaa. Priyanka Gill becomes a venture partner at Kalaari Capital and later launches lab-grown diamond brand Coluxe. Naiyya Saggi starts a new consumer electronics venture. The Good Glamm Group is breaking up after lenders enforced their charge on individual brands owned by the embattled startup. The unceremonious end to the content-to-commerce startup's run as a ' house of brands ' conglomerate comes after missed funding opportunities and the subsequent cash crunch After its rebranding four years ago, Good Glamm went on an aggressive acquisition spree to create an arrangement where it would use content platforms to market its beauty and personal care products. It often overpaid for brands that struggled to scale and had to sell some of them for a fraction of their cost as things went south. The company has been trying to sell other brands as rebrands as The Good Glamm Group, transitioning into a house-of-brands platform. Around this time, it also acquired Priyanka Gill's POPxo and Naiyya Saggi's Glamm raises $30 million at a flat valuation of $1.25 billion from existing investors, including Warburg Pincus, Prosus Ventures, Bessemer, and Accel , aimed at meeting working capital hygiene brand Sirona and mother and baby care startup The Moms Co., along with investors from Indian Angel Network (IAN), issue default notices to Good Glamm over delayed payments. The company initiates arbitration proceedings against IAN. The legal dispute was later resolved after Good Glamm completed the pending acquisition from investors Accel, Prosus Ventures, and Bessemer Venture Partners resign from the board The company sells Sirona back to its founders for about Rs 150 crore, well below the Rs 450 crore it paid earlier. Post-acquisition, Sirona's sales declined to an eighth of their peak, as the brand struggled within Good Glamm's broader portfolio. The company's financial issues, including salary delays and disruptions across its vendor network, further strained the same month, Good Glamm offloaded ScoopWhoop , a digital media firm, to meme marketing agency WLDD for around Rs 18-20 crore, a fraction of its 2021 acquisition cost of Rs 100 crore. ScoopWhoop cofounders Rishi Pratim Mukherjee, Sattvik Mishra, and Sriparna Tikekar took legal action against Good Glamm over unpaid reported that the company was in talks to sell its media and talent arm, MissMalini Entertainment, to marketing agency company fails to pay salaries for two consecutive months due to a cash crunch. Full and final settlements for existing employees also remain company shut its Vasant Kunj office in New Delhi earlier this year, briefly moved operations to Greater Kailash, and has now shifted to a remote-work and refinancing efforts started earlier this month but failed. Lenders enforce their charge on individual brands, forcing the sale of brands one by one. This ends the group's run as a house-of-brands Glamm chief executive Darpan Sanghvi said he is working closely with lenders and incoming buyers to facilitate transitions, clear dues, and secure placements for both current and former employees under the new brand also made a personal financial pledge to cover the arrears to employees in case lenders are unable to complete the brand sales or if the dues remain uncleared by the new owners. He committed to contributing 25% of his future post-tax income from salary or equity gains in any future ventures towards settling outstanding employee will also set up a Good Glamm Restitution Fund within the next 60 days, Sanghvi said, and promised to use the fund, backed by equity from his future ventures, to settle dues owed to vendors and compensate shareholders for their losses.
Time of India
05-07-2025
- Business
- Time of India
Timeline of events: Good Glamm's funding struggles, business reshuffle
Sukhleen Aneja, CEO of The Good Brands (D2C vertical), joins Nykaa. Priyanka Gill becomes a venture partner at Kalaari Capital and later launches lab-grown diamond brand Coluxe. Naiyya Saggi starts a new consumer electronics venture. Troubled beauty and personal care startup The Good Glamm Group is undergoing a series of restructuring efforts as it faces growing financial challenges. In a recent social media post, cofounder and CEO Darpan Sanghvi opened up about missed funding opportunities and their ripple effect on the is a timeline of the key events in Good Glamm's ongoing crisis:MyGlamm rebrands as The Good Glamm Group, transitioning into a house-of-brands platform. Around this time, it also acquired Priyanka Gill's POPxo and Naiyya Saggi's Glamm raises $30 million in a flat round from existing investors, including Warburg Pincus, Prosus Ventures, Bessemer, and Accel, aimed at meeting working capital from investors Accel, Prosus Ventures, and Bessemer Venture Partners resign from the board The company sells feminine hygiene brand Sirona back to its original founders for about Rs 150 crore, well below the Rs 450 crore it paid also offloaded ScoopWhoop, a digital media firm, to meme marketing agency WLDD for around Rs 18-20 crore, a fraction of its 2021 acquisition cost of Rs 100 crore. ET reported that the company was in talks to sell its media and talent arm MissMalini Entertainment, to marketing agency company fails to pay salaries for two consecutive months due to a cash crunch . Full and final settlements for existing employees also remain company shut its Vasant Kunj office in New Delhi earlier this year, briefly moved operations to Greater Kailash, and has now shifted to a remote-work model.
Yahoo
28-05-2025
- Business
- Yahoo
Deccan AI Announces Funding From Prosus Ventures to Accelerate Growth
PALO ALTO, Calif., May 28, 2025--(BUSINESS WIRE)--Deccan AI, a fast growing startup that specializes in pristine data for AI model training and evaluations, has raised funding from Prosus Ventures. The investment will accelerate product development, expand the team, and fuel market expansion. High-quality data is the lifeblood of AI models, yet there is a constant challenge in generating the vast datasets required to train and evaluate sophisticated models. Deccan AI was founded to solve this critical need. The company supports the frontier model work of leading AI companies such as Google and Snowflake. Deccan has a specialized platform, an elite workforce of over 500,000 freelancers (e.g. IIT graduates and PhDs), and deep expertise in cutting-edge GenAI use cases such as agentic evaluations, coding tasks, and multi-modal data. "This investment from Prosus Ventures is a powerful validation of our vision to provide the essential fuel for the AI revolution," said Rukesh Reddy, Founder of Deccan AI. "We see a significant opportunity to empower top AI labs with the high-quality human data they need to build truly intelligent systems. This funding will enable us to expand our capabilities, invest further in ML research, and strengthen our presence, particularly in the Bay Area." "We are excited to support Deccan AI as it plays a critical role in powering the next generation of AI models," said Apoorve Goyal, Managing Director, Prosus. Deccan AI's rigorous quality control process, high-caliber team, and well-researched workflows ensure consistently high-quality data. This is reflected in recent positive customer feedback. Snowflake recently utilized Deccan AI for validation and testing. "For evaluating powerful RAG and Agentic systems, you need high quality data," said Rajhans Samdani, Principal Software Engineer at Snowflake. "Deccan AI provided us with exactly that. The team also worked very closely with us as we improved our benchmarking process and they were able to turn on a dime." About Prosus Ventures Prosus Ventures is the venture investing arm of Prosus, one of the world's largest technology investors. Prosus Ventures backs innovative companies across Europe, the Americas, and Asia, focusing on sectors such as SaaS, e-commerce, fintech, and B2B. About Deccan AI Deccan AI, headquartered in the Bay Area, delivers pristine model training and eval data to top AI labs. Its elite network of freelancers enables expert human-in-the-loop support for complex AI workflows such as agentic evaluations, multi-modal data labeling, and code-based tasks. View source version on Contacts Poonam
Yahoo
28-05-2025
- Business
- Yahoo
Deccan AI Announces Funding From Prosus Ventures to Accelerate Growth
PALO ALTO, Calif., May 28, 2025--(BUSINESS WIRE)--Deccan AI, a fast growing startup that specializes in pristine data for AI model training and evaluations, has raised funding from Prosus Ventures. The investment will accelerate product development, expand the team, and fuel market expansion. High-quality data is the lifeblood of AI models, yet there is a constant challenge in generating the vast datasets required to train and evaluate sophisticated models. Deccan AI was founded to solve this critical need. The company supports the frontier model work of leading AI companies such as Google and Snowflake. Deccan has a specialized platform, an elite workforce of over 500,000 freelancers (e.g. IIT graduates and PhDs), and deep expertise in cutting-edge GenAI use cases such as agentic evaluations, coding tasks, and multi-modal data. "This investment from Prosus Ventures is a powerful validation of our vision to provide the essential fuel for the AI revolution," said Rukesh Reddy, Founder of Deccan AI. "We see a significant opportunity to empower top AI labs with the high-quality human data they need to build truly intelligent systems. This funding will enable us to expand our capabilities, invest further in ML research, and strengthen our presence, particularly in the Bay Area." "We are excited to support Deccan AI as it plays a critical role in powering the next generation of AI models," said Apoorve Goyal, Managing Director, Prosus. Deccan AI's rigorous quality control process, high-caliber team, and well-researched workflows ensure consistently high-quality data. This is reflected in recent positive customer feedback. Snowflake recently utilized Deccan AI for validation and testing. "For evaluating powerful RAG and Agentic systems, you need high quality data," said Rajhans Samdani, Principal Software Engineer at Snowflake. "Deccan AI provided us with exactly that. The team also worked very closely with us as we improved our benchmarking process and they were able to turn on a dime." About Prosus Ventures Prosus Ventures is the venture investing arm of Prosus, one of the world's largest technology investors. Prosus Ventures backs innovative companies across Europe, the Americas, and Asia, focusing on sectors such as SaaS, e-commerce, fintech, and B2B. About Deccan AI Deccan AI, headquartered in the Bay Area, delivers pristine model training and eval data to top AI labs. Its elite network of freelancers enables expert human-in-the-loop support for complex AI workflows such as agentic evaluations, multi-modal data labeling, and code-based tasks. View source version on Contacts Poonam Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
28-05-2025
- Business
- Business Wire
Deccan AI Announces Funding From Prosus Ventures to Accelerate Growth
PALO ALTO, Calif.--(BUSINESS WIRE)--Deccan AI, a fast growing startup that specializes in pristine data for AI model training and evaluations, has raised funding from Prosus Ventures. The investment will accelerate product development, expand the team, and fuel market expansion. High-quality data is the lifeblood of AI models, yet there is a constant challenge in generating the vast datasets required to train and evaluate sophisticated models. Deccan AI was founded to solve this critical need. The company supports the frontier model work of leading AI companies such as Google and Snowflake. Deccan has a specialized platform, an elite workforce of over 500,000 freelancers (e.g. IIT graduates and PhDs), and deep expertise in cutting-edge GenAI use cases such as agentic evaluations, coding tasks, and multi-modal data. "This investment from Prosus Ventures is a powerful validation of our vision to provide the essential fuel for the AI revolution," said Rukesh Reddy, Founder of Deccan AI. "We see a significant opportunity to empower top AI labs with the high-quality human data they need to build truly intelligent systems. This funding will enable us to expand our capabilities, invest further in ML research, and strengthen our presence, particularly in the Bay Area." 'We are excited to support Deccan AI as it plays a critical role in powering the next generation of AI models,' said Apoorve Goyal, Managing Director, Prosus. Deccan AI's rigorous quality control process, high-caliber team, and well-researched workflows ensure consistently high-quality data. This is reflected in recent positive customer feedback. Snowflake recently utilized Deccan AI for validation and testing. 'For evaluating powerful RAG and Agentic systems, you need high quality data," said Rajhans Samdani, Principal Software Engineer at Snowflake. 'Deccan AI provided us with exactly that. The team also worked very closely with us as we improved our benchmarking process and they were able to turn on a dime.' About Prosus Ventures Prosus Ventures is the venture investing arm of Prosus, one of the world's largest technology investors. Prosus Ventures backs innovative companies across Europe, the Americas, and Asia, focusing on sectors such as SaaS, e-commerce, fintech, and B2B. About Deccan AI Deccan AI, headquartered in the Bay Area, delivers pristine model training and eval data to top AI labs. Its elite network of freelancers enables expert human-in-the-loop support for complex AI workflows such as agentic evaluations, multi-modal data labeling, and code-based tasks.
