Nykaa, an online retailer of beauty and wellness products, has raised about $14.4 million (Rs 100 crore) in fresh funding from private equity fund TPG Growth. TPG Growth IV SF Pte Ltd has been allotted 2.83 lakh shares in Nykaa in exchange for the investment. Nykaa appears to be on track to joining Asia’s unicorn ranks. TPG Growth’s investment gives it a spectacular jump in the post-money valuation of $724 million. The raise comes after a long hiatus in institutional investment in the cosmetic platform.