Through a deal handled with the aid of Spark Financial Holdings, RENÉE Cosmetics raises $25 million in a Series B funding round led by Evolvence India, along with Edelweiss Group and current investors Equanimity and 9Unicorns.
It strives to advance its goal of establishing RENEE Cosmetics a well-known Indian beauty brand on a worldwide scale. In just a little over two years of operations, this also results in the creation of a 100 million valuation for the brand, which includes a total of $35 million over three rounds of funding, as per reported by BW Disrupt.
With RENEE, our goal has always been to create a quality brand with innovative products that would change the perception towards using beauty products. We want to inspire our consumer’s creative side and help them celebrate their beauty through RENÉE,” said Ashutosh Valani, Co-Founder and Director at RENÉE.
He added, “What Aashka, Priyank, and I have learned in the last over two years is that it is less about creating a brand that is simple to use, that is just the table stake, but more about redefining beauty in a way that consumers are open to embracing it. With this round, our priority is to extend our product portfolio to give our consumers the comfort to be at ease with being themselves.”
Aashka Goradia Goble, Co-Founder and Director at RENÉE, says, “With our upcoming product portfolio, we want to unveil everyone’s innate layer of beauty. We want RENÉE to be a part of every individual’s journey towards loving themselves more and celebrating their beauty.”
Priyank Shah, Co-Founder and Director at RENÉE, concluded, “We want to extend and strengthen our presence more in-depth and steer RENÉE towards becoming a globally recognized Indian makeup brand that is relatable and accessible to all irrespective of the geographical location.”
By enabling the business to expand its staff and create new products, the Series B funding will boost RENEE’s sustained expansion in India and abroad.
Speaking on the investment, Abhishek Chandra, Managing Director and Ajit Kumar, Managing Partner at Evolvence India, said, “RENÉE’s relentless focus on brand, omnichannel distribution, and product gives the company an edge for it becoming a disruptive force in the beauty landscape in India. We are excited to partner with Ashutosh, Priyank, and Aashka, all of them who come with a deep experience in this space, to accelerate the company’s already impressive growth trajectory.”
About RENÉE Cosmetics
RENÉE Cosmetics is an Indian makeup brand that’s redefining beauty with its range of high quality, 100% cruelty-free, innovative range of products. RENÉE believes in empowering women to own and enjoy their bold, ambitious persona and let their glam do the talking.
Founded by Aashka Goradia Goble, the famed actress and her brand both believe that the art of cosmetics is a true liberator and a beautiful form of expressing oneself in hues, tones and shades.