Renee Cosmetics Secures 300 crores in Series B Funding

Renee Cosmetics
Secures 300 crores
in Series B Funding

Renee Cosmetics, a rapidly growing beauty brand based in Ahmedabad, has successfully secured Rs 100 crores in its latest Series B funding round. This round was led by Evolvence India, with participation from the Edelweiss Group and existing investors, including Equanimity Ventures and 9Unicorns. The funding deal was facilitated by Spark Financial Holdings.

This new injection of capital brings Renee Cosmetics’ total funding to 300 crores across three rounds, resulting in a company valuation of 850 crores. The funds are earmarked for expanding both the product range and market presence, with a particular focus on enhancing the brand’s footprint in international markets. The company aims to develop more innovative products, boost marketing initiatives, and grow its team to sustain its ambitious growth trajectory.

Renee Cosmetics, founded by Ashutosh Valani, Priyank Shah, and Aashka Goradia, has made significant strides in the beauty industry with its unique product offerings and omnichannel distribution strategy. The brand has achieved a notable milestone by breaching the ₹100 crore annual recurring revenue mark, emphasizing its rapid growth and market acceptance. Their products are available on major e-commerce platforms like Amazon, Flipkart, Nykaa, and Myntra, as well as in over 650 physical stores across India (startupstars.in).

This latest round of funding will enable Renee Cosmetics to further solidify its position as a leading Indian beauty brand and push towards its goal of becoming a globally recognized name in the cosmetics industry.