PE Fund Investments
Bombay Shaving co raises Rs.160-Cr led by Malabar investments; in talks to raise addl Rs.300-Cr
New Delhi-based hair removal brand Bombay Shaving Company (BSC) has raised INR 160 crore in a funding round led by Malabar Investments, a hedge fund based in India. The round also saw participation from Patni Advisors, Singularity AMC, and other HNIs. Last year, BSC had raised INR 45 crore from FMCG firm Reckitt. The company had also bought back ESOPs worth INR 45 crore. BSC was launched in 2016 by former McKinsey & Co consultant Shantanu Deshpande. In 2020, it forayed into women's hair removal, which now accounts for nearly 25% of the total business. BSC will use the new funds to expand its portfolio of personal care & hair removal products. It will also expand its offline distribution, expand international presence, invest in brand building and hire talent. The company also intends to acquire brands in adjacent categories and content platforms and is in talks to raise a further INR 300 crore for this.
From the Venture Intelligence PE-VC Deal Database: Between Aug-17 and Jan-21 Bombay Shaving Company raised $19.3 M from Sixth Sense Ventures, Fireside Ventures, and others. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
Want to receive such news items in your inbox? Click Here to sign up for a trial.
