LetsShave, a direct-to-consumer grooming company, has received an undisclosed amount of funding from Wipro Consumer Care. With this, the firm has now successfully raised more than $6 million in funding.
The business will use the funds to expand into the offline market and increase its digital presence in India. The funds will also be used to support the startup’s international expansion and forays into new international markets, as per reported by Inc42.
“We would like to walk and jog in our business as we have to go a long way. Our DNA is to build a sustainable and profitable business without bleeding heavily. We will make LetsShave a profitable business within the one-year period, aiming to be the number one shaving brand online,” said LetsShave’s founder and CEO, Sidharth Oberoi.
The world’s largest razor producer Dorco and the multibillion-dollar FMCG giant Wipro Consumer Care Ventures, respectively, provided funding for LetsShave in 2018 and 2020.
“LetsShave has shown promising growth and has been able to expand its consumer base… They operate in a large market of razors, blades, and trimmers, and their strong execution abilities are on a path of rapid growth. We are happy to do follow-on funding in LetsShave,” said Sumit Keshan, the managing partner at Wipro Consumer Care.
Sidharth Oberoi started LetsShave in Chandigarh. Its website and other e-commerce sites sell shaving kits, trial kits, blades, and shaving foams for men and women. Marriott, St. Regis, Ritz Carlton, and other hotels and salons employ its products.