THE WHAT? New Delhi-based Renee Cosmetics has raised $1.5 million in a pre-series A funding round, which was led by Equanimity Ventures, 9Unicorns and Titan Capital.
THE DETAILS A cruelty-free beauty brand, Renee Cosmetics was founded by Aashka Goradia Goble, Ashutosh Valani and Priyank Shah in order to develop a ‘convenient and affordable’ offering.
Valani and Shah also founded male grooming brand Beardo, which was acquired by FMCG company Marico India.
THE WHY? The funding will be used to expand the company’s distribution network, with plans to add touch point its in locations such as airports.
Valani said, “We are ecstatic to be growing Renee to even greater heights after our success with Beardo. From being leaders of the male grooming industry to now grasping the massive market size of the women’s beauty industry, we truly believe we can achieve leaps and bounds with the brand.”