PE-VC Fund Investments
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.
Between Oct 2021 and Jul 2024, Renee Cosmetics had attracted about USD 51-M from Edelweiss Private Equity, Equanimity Investments, Evolvence, Alteria Capital, InnoVen Capital and others.For FY24, Renee Cosmetics had reported about INR 192 Cr in Operating Income and about INR 61 Cr in Net Loss.
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