SoftBank-backed e-commerce rollup startup GlobalBees has made a significant move by increasing its stake in two subsidiaries: Brainbees Solutions Limited, Frootle India Private Limited, and Wellspire India Private Limited.
With an investment of Rs 105.15 crore in Frootle India and Rs 1.05 crore in Wellspire India, GlobalBees has raised its stake in both companies from 51% to 74%. These deals were made in cash.
Frootle India and Wellspire India are known for their home and kitchen appliances, operating under the brand names ‘Frootle’ and ‘Wellspire’.
According to a BSE filing, Frootle’s turnover was Rs 309.72 crore in FY24, and that of Wellspire stood at Rs 15.49 crore. Founded on a business model similar to Thrasio, GlobalBees acquires and scales e-commerce brands. That approach has enabled them to capture synergies in their portfolio, facilitate growth, and drive economic production.
In February 2024, GlobalBees raised Rs 150 crore ($18 million) in a debt round from Avendus. To raise the funds, GlobalBees passed a special resolution to allot 1,500 non-convertible debentures at an issue price of Rs10 lakh each.
The company reported a standalone loss of Rs 6.15 crore in FY23 (it recorded a loss of Rs 30 crore during the preceding financial year). It increased its total revenue from operations to Rs 64.68 crore for the Financial Year ended March, compared to Rs 18.84 crore.
The increased stake in Frootle India and Wellspire India is part of GlobalBees’ broader strategy to strengthen its home and kitchen appliance market position.
By increasing their ownership, GlobalBees aims to drive further growth and capitalize on these brands’ strong performance.
This move also reflects the growing trend of e-commerce roll-up companies acquiring and scaling niche brands to create value and drive profitability.
With the additional investment, GlobalBees is well-positioned to enhance its market presence and deliver value to its stakeholders.
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