HomeFunding AlertRENEE Raised $25 Mn In Series B Round Led By Evolvence India

RENEE Raised $25 Mn In Series B Round Led By Evolvence India

Ahmedabad-based beauty brand Renee Cosmetics has raised $25 million (Rs 206 crore) in series B funding round led by Evolvence India. Edelweiss Group and existing investors Equanimity and 9Unicorns also participated in the funding round.

Commenting on the investment, Abhishek Chandra, managing director of Evolvence India in a statement said, “Renee’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.”

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Ashutosh Valani, co-founder director at Renee added, “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 Renee. With this round, our priority is to extend our product portfolio to give our consumers the comfort to be at ease with being themselves.”

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Since commencing its post-pandemic operations, RENÉE Cosmetics today has over 200 products in its beauty and perfume categories. The products are available on RENÉE’s website, across major ecommerce platforms such as Amazon, Flipkart, Nykaa, and Myntra, as well as at 650+ shop-in-shop stores across the country. Additionally, the company has an online beta presence in the US, UAE, and Australia.

Priyank Shah, Co-founder and Director at RENÉE, added, “We want to extend and strengthen our presence and steer RENÉE towards becoming a globally-recognised Indian makeup brand that is relatable and accessible to all, irrespective of the geographical location.”

Vishvajeet Kumar Gupta
Vishvajeet Kumar Guptahttps://marketmoney.in/
Vishvajeet Kumar is the Author & Co-Founder of the Marketmoney.in. He has also Appearing his graduation in Cadet Officer from Chennai . He is passionate about Blogging & Little-Bit in Banking.

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