Beauty brand Renee Cosmetics raises $10-M from Mensa Brands, others

Ahmedabad-based beauty brand Renee Cosmetics has raised USD 10 million in Series A led by Mensa brands. The round also witnessed participation from existing investors Equanimity and 9Unicorns. The brand has raised a total of USD 11 million till date, including the current round. Founded by Aashka Goradia Goble along with Beardo co-founders duo Ashutosh Valani and Priyank Shah, Renee Cosmetics claims to be a cruelty-free beauty brand offering a wide range of eye makeup, lip colours, skin serums and highlighters. Renee plans to use the funds in strengthening the brand presence and widening offline presence. A part of the funds will also be leveraged for catalogue expansion and marketing budgets.