Founded in 2018 by Aashka Goradia, Priyank Shah, and Ashutosh Valani, the firm claims to have over 200 goods in its beauty and perfume divisions portfolio, which are accessible on Amazon, Flipkart, Nykaa, and Myntra, among others, as well as over 1,200 shop-in-shop outlets across the country.
Beauty company RENÉE Cosmetics has raised Rs 100 crore (about $12 million) in a Series B round of funding spearheaded by current backers Evolvence India and the Edelweiss Group. The company stated that it raised the latest round at a valuation of Rs 1,200 – 1,400 crore, up 60% from its previous round of $25 million in December 2022 at a valuation of about Rs 850 crore ($100 million).
The current round raises the company’s overall investment to about $45 million.
Speaking on the funding, Priyank Shah, Co-Founder of RENÉE, stated that the new investment will allow the company to provide a more wide product line as it seeks to expand its omnichannel footprint.
“We’re not just expanding our shelves; we’re establishing a strong omnichannel presence to make RENÉE available to everyone, everywhere,” stated Aashka Goradia, Co-founder and Director of RENÉE.
Founded in 2018 by Aashka Goradia, Priyank Shah, and Ashutosh Valani, the company offers over 200 cosmetic and perfume goods on Amazon, Flipkart, Nykaa, Myntra, and other platforms, as well as over 1,200 shop-in-shop outlets nationwide. RENÉE also has an online beta presence in the United States, UAE, and Australia.
“This investment supports their ambition of being a disruptive force by expanding the assortment of high-quality items available through all channels. “We believe RENÉE’s growth potential aligns perfectly with our investment strategy,” said Abhishek Chandra, Managing Director and Ajit Kumar, Managing Partner at Evolvence India.
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