Total amount raised
$50.7 Millions
Latest funding date
Location
Renee Cosmetics has successfully raised funding through multiple rounds, including a Series B round, with backing from six investors such as Evolvence India Fund and Edelweiss Financial Services.
Keep reading to explore the intricacies of Renee Cosmetics' fundraising journey and the investors backing this innovative beauty brand.
What Is Renee Cosmetics?
Renee Cosmetics, founded in 2019, is an Indian makeup brand based in Ahmedabad, Gujarat. The company was established by Aashka Goradia Goble, Ashutosh Valani, Parin Shah, and Priyank Shah.
Specializing in cruelty-free cosmetics, Renee Cosmetics offers a diverse range of products, including kajal pens, mascaras, kohl pencils, liquid eyeliners, eyebrow growth roll-ons, and primers. Their mission is to empower women to embrace their bold and ambitious personas through high-quality, innovative products.
With a workforce of 1001-5000 employees, Renee Cosmetics continues to grow and make a significant impact in the beauty industry.
How Much Funding Has Renee Cosmetics Raised?
- Seed Round
- Amount Raised: $1.5M
- Date: September 2021
- Lead Investors: 100Unicorns, Equanimity Investments
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart operations and develop initial product lines.
- Series A
- Amount Raised: ₹750M (approx. $10M)
- Date: February 2022
- Lead Investors: Mensa Brands
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and expand the product portfolio.
- Series B
- Amount Raised: ₹2.3B (approx. $25M)
- Date: December 2022
- Lead Investors: Evolvence India Fund
- Valuation at Round: $100M
- Motivation Behind the Round: To expand business domestically and internationally, enhance marketing, and hire talent.
- Series B
- Amount Raised: ₹1B (approx. $12M)
- Date: July 2024
- Lead Investors: Edelweiss Financial Services, Evolvence India Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further strengthen market presence and product innovation.
Total Amount Raised: $48.5M. Current Valuation: $100M.
Key Investors
- Evolvence India Fund
- Details: Evolvence India Fund is a private equity firm that focuses on high-growth companies in India. They have a strong presence in the consumer, healthcare, and financial services sectors.
- Investment Focus Areas: Consumer goods, healthcare, financial services
- Notable Investments: Not publicly disclosed
- Edelweiss Financial Services
- Details: Edelweiss Financial Services is a diversified financial services company based in India. They offer a wide range of financial products and services, including investment banking and asset management.
- Investment Focus Areas: Financial services, asset management, investment banking
- Notable Investments: Not publicly disclosed
- Mensa Brands
- Details: Mensa Brands partners with digital-first brands to help them scale. They focus on acquiring and growing consumer brands with a strong online presence.
- Investment Focus Areas: Digital-first consumer brands, e-commerce, retail
- Notable Investments: Not publicly disclosed
- 100Unicorns
- Details: 100Unicorns is an investment platform that focuses on early-stage startups. They provide seed funding and support to help startups grow.
- Investment Focus Areas: Early-stage startups, technology, innovation
- Notable Investments: Not publicly disclosed
- Equanimity Investments
- Details: Equanimity Investments is a venture capital firm that invests in early-stage companies. They focus on startups with high growth potential across various sectors.
- Investment Focus Areas: Technology, consumer, healthcare
- Notable Investments: Not publicly disclosed
What's Next for Renee Cosmetics?
Renee Cosmetics stands poised to capitalize on the burgeoning $5.6 billion Indian online beauty market by 2025. With a $100 million valuation and a robust product portfolio, the company is well-positioned to expand both domestically and internationally. Their focus on innovative, cruelty-free products aligns perfectly with current consumer trends, offering significant growth potential.
Future fundraising opportunities seem promising as Renee Cosmetics continues to scale. The recent $25 million Series B round indicates strong investor confidence, suggesting that additional funding rounds could be on the horizon to support further expansion and product development.
However, the path forward is not without challenges. Intense competition from established brands like MamaEarth and SUGAR Cosmetics, along with the complexities of international market expansion, could pose significant hurdles. Maintaining rapid growth while ensuring product quality and navigating regulatory landscapes will be crucial for sustained success.
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