D2C beauty brand RENÉE Cosmetics on Tuesday said it it has raised $25 million in Series B funding round led by Evolvence India. Edelweiss Group besides existing investors, Equanimity and 9Unicorns also participated in the round.
The brand said that the Series B funding will further enhance its presence in India and international markets by enabling it to develop more products, marketing initiatives and grow its team. The start-up said it has crossed the ₹100 crore ARR-mark and aims to grow 100 per cent quarter by quarter.
“With RENEE, our goal has always been to create a quality brand with innovative products that would change the perception towards using beauty products. With this round, our priority is to extend our product portfolio to give our consumers the comfort to be at ease with being themselves,”said Ashutosh Valani, Co-Founder and Director at RENÉE Cosmetics.
200 products
RENÉE Cosmetics offers over 200 products in its beauty and perfume divisions portfolio. These products are available on the brand’s own site and across other e-commerce platforms such as Amazon, Flipkart, Nykaa, and Myntra. It also has over 650 shop-in-shop stores across the country.
“RENÉE’s relentless focus on brand, omnichannel distribution, and product gives the company an edge for becoming a disruptive force in the beauty landscape in India,” said Abhishek Chandra, Managing Director at Evolvence India.
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