Renee Cosmetics raises $30 Mn in Series C round

Renee Cosmetics, a Direct-to-consumer (D2C) beauty brand has raised $30 milllion in a Series C funding round led by Playbook with secondary investment from Midas.

The company stated on August 7 that the investment includes both primary and secondary components.

The new funding values the company at $200 million — 1.4 times higher than its $12 million extended Series B round in June last year.

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RENÉE Cosmetics, with a portfolio of 200+ products, plans to use the new funding to launch more products, grow its presence across tier I and tier II cities, and invest in technology and brand-building.

“This capital further gives us the firepower to scale our marketing engine, optimise consumer acquisition costs, and drive better conversion across both D2C and marketplace platforms. We’ve already achieved an annual revenue run rate (ARR) of Rs 500 crore and are confident of doubling this to Rs 1,000 crore in the next two years,” said Ashutosh Valani, Co-founder of RENÉE Cosmetics.

"RENÉE Cosmetics is well-placed to tap into a new wave of cosmetics consumption in India. The modern Indian consumer is looking for authenticity, innovation, and inclusivity and Renee is delivering on all three fronts,” said Vikas Choudhary, founding partner of Playbook.

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About RENÉE Cosmetics

Founded in 2019 by Aashka Goradia Goble in collaboration with Beardo co-founders Priyank Shah and Ashutosh Valani, RENÉE offers a range of products including eye makeup, lip colors, skin serums, and highlighters. Along with selling on e-commerce and quick commerce platforms, the brand is available in over 15,000 stores across India.

It’s also expanding globally, with a beta online presence in the US, UAE, and Australia.