Indian beauty and personal care startup Nykaa raises $13m

BENGALURU -- Mumbai-based beauty and skincare startup Nykaa said Tuesday it had raised 1 billion rupees ($13 million) in fresh funding led by existing investor Steadview Capital.

This comes at a time when venture capital investments are expected to slow down due to the global spread of COVID-19 and as investors look to back companies that offer essential services or products, with the coronavirus pandemic likely to have an adverse effect on discretionary spending.