Renee Cosmetics raises $30-M in Series C led by Playbook at $200-M valuation

Ahmedabad-based direct-to-consumer (D2C) beauty brand Renee Cosmetics has raised USD 30 million in its Series C funding round led by Playbook. The round, which was a mix of primary and secondary investment, also saw participation from existing investors Evolvence India, Edelweiss, besides secondary investment from Midas Partners. The round has taken Renee Cosmetic's valuation to USD 200 million.The fresh capital will be used by the firm to expand its product portfolio and strengthen marketing efforts and omnichannel presence across Tier I and Tier II cities.Co-founded in 2019 by Aashka Goradia, Priyank Shah, and Ashutosh Valani, Renee Cosmetics operates across online marketplaces as well as over 1,200 shop-in-shops and exclusive brand outlets. Renee also has an online beta presence in the USA, the UAE, and Australia.