Sirona, IAN & Moms Co files notices against Good Glamm for Payment delay

By Team Startupcity  |  Monday, 22 April 2024, 08:57 IST

Sirona, IAN & Moms Co files notices against Good Glamm for Payment delay
The founders of Sirona Hygiene and The Moms Co, in addition to the Indian Angel Network (IAN), have filed default notices against the content-to-commerce company Good Glamm Group, which had acquired the two companies in 2021. According to the founders and IAN, which had invested in Sirona, Good Glamm has not paid them their final payments. 
Good Glamm had purchased The Moms Co and the feminine hygiene startup Sirona for a combined sum of 500 crore in 2021. According to the individuals cited above, who spoke on condition of anonymity, the founders and IAN have sent notices because they have not received the final installment of payments due in January. 
In addition to rapidly expanding its workforce and product portfolio, the Good Glamm Group had acquired more than ten consumer goods and media startups between 2020 and 2021, including media platforms ScoopWhoop and MissMalini.
According to the aforementioned individuals, additional founders have also approached Good Glamm regarding comparable complaints of non-payment of dues totalling 130-160 crore rupees.
Speaking to this issue, the personal care startup, The Good Glamm Group said it is in “compliance with its contractual obligations and payouts to the promoters are in accordance with the contractual terms. We cannot comment on any specifics, since we are bound by confidentiality obligations.”
Good Glamm operates in a variety of industries including MyGlamm, St Botanica, The Moms Co, Organic Harvest and Sirona, while The Good Media Co includes POPxo, ScoopWhoop, MissMalini, BabyChakra and Tweak India.
Among the prominent investors who back the Good Glamm Group includes Warburg Pincus, Prosus Ventures, L’Occitane, Bessemer Venture Partners, Accel, Amazon, Stride Ventures, Trifecta Capital, Ascent Capital, Alteria Capital, Tano Capital and the Mankekar Family Office.

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