Emami arm invests $565,000 for 7.54% stake in US firm

Em a mi has picked up a 7.54 per cents take in US-based startup, LoliBeautyInc, pumping in $0.57 million into the company. This marks Em ami' s third such investment in a start-up in the cosmetics and beauty care brand; the other two are in the G ur ga on-based Helios Lifestyle and Ahmedabad-based Brillare Science in the last fiscal year. It had created a ~1 billion fund to invest in start-ups as either strategic investment or firms which complements products it is hitherto not present in. the agreement with Lo li Beauty, Em ami’ s wholly-owned subsidiary in Dubai, Emami International FZE, will be in charge of 12,28,261 Series Seed Prime Preferred Stocks of Lo li Beauty while the funding for the same will bed one by the parent company.