Sugar Cosmetics raises ₹144.5 cr in funding at 75% lower valuation

Sugar Cosmetics has raised ₹144.5 crore from existing investor A91 Partners at a post-money valuation of around ₹755 crore, about 75% below its peak valuation. The D2C beauty brand is raising funds as revenue falls and losses widen, with A91's stake expected to reach 19.97%. Sugar's operating revenue dropped 20% to ₹404 crore in FY25 from ₹505 crore in FY24.