Renee Cosmetics Secures $30 Million in Series C Round

Renee Cosmetics lipsticks and eye makeup products on display

Fast-growing beauty brand Renee Cosmetics has raised $30 million in a Series C funding round, catapulting its valuation to $200 million. The round was led by Playbook Partners, with strategic participation from Midas Partners, alongside existing investors Evolvence India and Edelweiss Group.

Founded in 2020 by Ashutosh Valani, Priyank Shah, and Aashka Goradia Goble, Renee has become a standout player in India’s D2C beauty space, known for its trend-forward makeup, cruelty-free formulations, and omnichannel retail strategy.

The Funding Fuels:

– Product Innovation: Expansion of its 200+ SKU portfolio, including lipsticks, eye makeup, perfumes, and skincare 

– Retail Growth: Scaling offline presence across Tier I and Tier II cities, with over 15,000 retail touchpoints 

– Tech & Marketing: Investment in digital infrastructure, customer acquisition, and conversion optimization across D2C and marketplace platforms 

– Global Expansion: Strengthening beta operations in the US, UAE, and Australia

“This capital gives us the firepower to scale our marketing engine, optimize consumer acquisition costs, and drive better conversion,” said Ashutosh Valani, Co-founder of Renee. “Renee is leading the next wave of beauty consumption in India, especially in Tier 2+ markets,” added Vikas Choudhary, Founding Partner at Playbook.

With an annual revenue run rate of ₹500 crore, Renee aims to double that to ₹1,000 crore within two years, positioning itself as a formidable challenger to legacy and D2C beauty brands alike.

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