Mumbai: On-demand beauty services provider Sanghvi Technologies Pvt. Ltd, which runs MyGlamm.com, said on Wednesday that it has raised $6 million from beauty products company L’Occitane International SA, US-based PE fund Tano Capital and The Times of India publisher Bennett, Coleman and Co. Ltd.

Sanghvi Technologies, the company founded in 2015 by Darpan Sanghvi, is looking to use the funds for growing across eight cities in India and the Middle East. In addition to this, it is looking to invest in creating large training academies and infrastructure.

“Beauty is the category with the highest margin and highest repeat business in the home services category, making beauty by far the most exciting category in the home services business. And it is also the category which requires maximum domain expertise and focus – and given our background of running salons and spas globally, we think MyGlamm is best poised to execute this in India,” Sanghvi said in a statement.

The company completes 600 service orders on a day, with a repeat purchase rate of 60%. Its gross margin is around 50% and it intends to have a net profit by the end of this year. While new customers spend Rs 1,500 on MyGlamm, repeat customers spend Rs 2,900.

MyGlamm is starting with training academies in Mumbai and Pune and is looking to launch these across some other cities in India. This vertical will be instrumental in also creating a supply of beauticians and stylists which will be required for growth. It has also partnered with leading brands such as Novalash, HD Brows and Margaret Dabbs to create a service portfolio.

In March, Delhi-based on-demand wellness and beauty services company Vanity Cube Pvt. Ltd raised $300,000 in an early stage round from Unicorn Ventures, friends and family. Home service start-up Taskbob (Crenovative Ideas Pvt. Ltd) raised Rs. 28 crore in a round led by led by IvyCap Ventures.

[“Source-Livemint”]