India, Sept. 4 -- D2C beauty and personal brand SUGAR Cosmetics has raised Rs.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 Rs.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. The startup's board of directors passed the resolution at its meeting held on September 1.

The startup has raised the fresh capital at a significant valuation cut. Its post-money valuation with the round, which seems to be its Series D equity round, is in the range of Rs.550-600 Cr ($58-64 Mn),...