THE WHAT? Bombay Shaving Co has closed a Rs160 crore funding round led by Malabar Investments, according to a report published by Times of India. Other participants included Patni Advisors and Singularity AMC.
THE DETAILS Launched by Shantanu Deshpande in 2016, the brand is aiming to conquer the hair removal category and scale up from Rs150 crore to Rs500 crore and Rs1,000 crore. Deshpande told the Times of India that the company was on the hunt for an investor that can help it prepare for flotation on the stock market.
THE WHY? Bombay Shaving Co will pile the funds into growing its product portfolio as well as expanding its offline distribution and international presence. The company is also scouting for potential acquisition targets in adjacent categories and content platforms and is hoping to raise a further Rs300 crore to this end.