Update:- RENEE Cosmetics, the innovative beauty brand, has secured INR 100 crore (approximately $12 million) in an extended Series B funding round. The round was led by existing investors Evolvence India and Edelweiss Group, valuing the company at around INR 1,300-1,400 crore ($155-170 million). This marks a substantial increase of approximately 60% from its last valuation.
However, the original story was RENEE Cosmetics, is set to raise INR 100 crore from its existing investors, including Evolvence India, Edelweiss Group, and 100Unicorns. This funding initiative aims to support the company’s expansion plans and further strengthen its market presence.
In 2022, RENEE secured $25 million in a Series B funding round led by Evolvence India, with participation from Edelweiss Group, Equanimity, and 100Unicorns. This significant capital infusion has enabled the company to scale its operations and enhance its product offerings.
Founded in 2018 by Aashka Goradia Goble, along with Beardo cofounders Ashutosh Valani and Priyank Shah, RENEE Cosmetics has swiftly made a mark in the Indian beauty industry. The brand offers a diverse range of products, including eye makeup, lip colors, skin serums, and highlighters.
“We are thrilled to continue our journey with the support of our esteemed investors,” said Aashka Goradia Goble, Co-founder of RENEE Cosmetics. “This additional funding will empower us to innovate further and reach a broader audience, cementing our position as a leading cosmetics brand in India.”
The makeup industry in India has seen substantial growth, driven by increasing consumer demand for high-quality and diverse beauty products. RENEE Cosmetics has capitalized on this trend by offering innovative and trend-setting products, gaining a loyal customer base.
With this fresh round of funding, RENEE Cosmetics plans to invest in product development, marketing strategies, and expanding its distribution network. The company aims to leverage its strong brand equity and investor support to achieve new milestones in the competitive beauty sector.
As RENEE Cosmetics continues its upward trajectory, the focus remains on delivering exceptional beauty solutions to its customers while maintaining its commitment to quality and innovation.
