Renee Cosmetics attracts Rs.100-Cr led by Evolvence, Edelweiss

Ahmedabad-based direct-to-consumer (D2C) beauty brand Renee Cosmetics has raised INR 100 crore (around USD 11.9 million) in its Series B1 funding round co-led by its existing backers Evolvence India and Edelweiss Group. The fresh capital will be used to diversify the firm’s product portfolio and strengthen omnichannel presence.Founded in 2018 by Aashka Goradia, Priyank Shah, and Ashutosh Valani, the company claims to have more than 200 beauty and perfume products, available on e-commerce portals such as Amazon, Flipkart, Nykaa, and Myntra. The company also sells through over 1,200 shop-in-shop stores across the country. Renee also has an online beta presence in the US, UAE, and Australia.