Beauty startup Stylofie buys Bengaluru company Hyve

Stylofie, the Gurgaon-based beauty and wellness startup, has acquired the Bengaluru-based Hyve, in a part cashpart equity deal. The business team of Hyve will now join Stylofie.

"We thought it is better to collaborate than compete.This acquisition will help Stylofie in revamping its technology stack and also give a launchpad in Bengaluru and help us expand in south India," said Prateek Agarwal, the CEO of Gurgaon-based Stylofie.

"A part of the business team will move to Gurgaon while the rest will be in Bengaluru," said Pratik Bhadkoliya, co-founder & CEO of Hyve.

Stylofie's future plans include expansion to other cities and adding more service providers.