RENEE Cosmetics Raises USD1.5M in Pre-Series A Funding Led by Equanimity Ventures and 9Unicorns with Participation from Titan Capital
RENEE Cosmetics, the Indian beauty brand today announced its Pre-Series A funding with the backing of Equanimity Ventures and 9Unicorns with participation from Titan Capital. The investment of USD 1.5 million had lead investors Rajesh Sehgal from Equanimity Ventures and Dr. Apoorv Ranjan Sharma from 9Unicorns, with co-Investors Kunal Bahl & Rohit Bansal from Titan Capital.
L to R: Priyank Shah, Aashka Goradia Goble and Ashutosh Valani – Team RENEE
The India Cosmetics Market was valued at approx USD 13 billion in FY2020, with many players in the market. In a world of repetitive and saturated beauty products, RENEE’s mission is to liberate and celebrate the spirit of women. The brand creates a range of products that are professional, convenient, and affordable. With innovation at its core, the brand has launched some never-seen-before products such as Fab 5-in-1, Fab Face, Dual Chamber Day & Night Serum & more, all aimed to bring together the daily makeup necessities into a concise packaging. Selling on its website and leading marketplaces, the brand has recently also started its offline chapter.
Commenting on the successful round of investment, Aashka Goradia Goble, Director & Co-founder, RENEE Cosmetics, said, “To be able to solve the daily needs of the modern Indian woman & bring together key necessities is something I have always wanted to achieve. We have successfully managed to do this through our multiple unique releases and are excited to bring a lot more experiences in the world of makeup. The journey has only just begun and as we welcome our new partners, we’re excited to make professional makeup easy for the everyday woman with newer formulations, colours and channels for RENEE.”
Dr. Apoorv Ranjan Sharma from 9Unicorns spoke about the brand & founders, stating, “Ashutosh & Priyank have proven their mettle in building successful brands. Their experience along with Aashka’s vision, knowledge & leadership style is sure to lead RENEE to even greater heights of innovation & success. We are delighted to join hands with the team and are looking forward to the revolution that RENEE will bring to the world of beauty.”
RENEE today is one of the bestselling brands across online marketplaces and has created a hold for itself in the offline market. In a saturated world of makeup, the brand aims to bring newness to the world of cosmetics with its products that are ground-breaking, affordable, and professional in every sense.
The leading beauty brand is currently clocking around 40 Cr. ARR and is all set to reach 100 Cr. ARR by the end of this fiscal year.
Commenting on the vision ahead, Ashutosh Valani, Co-founder & Director, RENEE Cosmetics 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 & bounds with the brand. We’re here to lead with innovation & newness in an otherwise saturated industry and as we grow, our products will continue being testament to that.”
Adding to that, Rajesh Sehgal from Equanimity Ventures said, “RENEE is an innovative approach to beauty cosmetics offering women new-age makeup products with quality, variety, and class. The founding team of Aashka, Ashutosh, and Priyank is a true blend of understanding the beauty and world-class business processes. Equanimity is delighted to partner with RENEE on this fabulous journey of beautifying Indian women and allowing them to express themselves like never before.”
Talking about the partnership, Priyank Shah, Co-founder & Director, RENEE Cosmetics, said, “When we started RENEE, our mission was to bring to India products that are concise, convenient, and class apart, while being affordable and professional in every sense. As we broaden our horizons with our new partners, I’m looking forward to strengthening our hold in the offline space as well. We aim to be present in over 1000 beauty outlets over the next few quarters and want to reach our consumers through multiple touch points like airports, modern trades & more.”
In recent years, the brand has grown aggressively, winning various awards and recognition for all its work from accolades like Femina Power Brand, CNBC Most Trusted Brand, Grazia Most Loved Brand, and more. This investment will help them strengthen their ability to innovate, retain & grow their digital hold, and expand their offline presence.
Explore the alluring range of RENEE Cosmetics at www.reneecosmetics.in or shop at Amazon India, Nykaa, Flipkart, and more.
About RENEE Cosmetics
Timelessly inspired, endlessly enhanced – RENEE Cosmetics is an Indian makeup brand that’s redefining beauty with its range of high quality, 100% cruelty-free, paraben-free and FDA-approved innovative range of products. RENEE 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. The beauty brand seeks inspiration from timeless beauty and transforms it to meet the needs of the modern woman.
Aashka Goradia Goble, Director & Co-founder, RENEE Cosmetics
RENEE, which means ‘rebirth’ is born out of Aashka’s dream to provide women of India class, color, and quality that’s unparalleled. After spending over two decades in the Indian Television industry and being a part of some of the biggest shows of the country, Aashka ventured into entrepreneurship with the aim to bring innovation to makeup.
Aashka is a brand in herself- starting out at the age of 16, Aashka grew to be one of the most popular television actresses and has won accolades on both national and international stages. She has also served as a juror on some of the top panels of the world, including Emmys International, along with being a financial anchor & advisor on CNBC ‘Get Rich with Aashka‘. For Aashka, it has always been about following your passion: whether it was her over 18-year long stint as an actress or today her new role as an entrepreneur with RENEE.
As someone who loves playing and experimenting with makeup, she believes that makeup is an experience of liberation and a celebration of the true spirit of the modern woman. As a leader, Aashka has created a name for herself as one of the frontrunners in the beauty segment of India, gaining recognition from accolades like Femina Power Brand, CNBC Most Trusted Brand, Grazia Most Loved Brand, ET Women Entrepreneur Award, Entrepreneur India Trailblazer in Beauty and Ad Gully Entrepreneur to Watch Out For. Today, she has taken RENEE beyond the home-ground, by marking its first international launch on amazon.com.
Ashutosh Valani, Co-founder & Director, RENEE Cosmetics
An instrumental figure in building the male grooming market in the digital world, Ashutosh Valani is the Co-founder & Director of RENEE Cosmetics and has taken the world of female cosmetics head-on. Ashutosh believes that the potential in the female market of India is immense and has successfully read, understood, and grasped the pulse of the digital world with his out-of-the-box thinking. His methods of reaching the right audience with crisp, creative, and clear communication have been the pillars of brand-building and a major reason behind his multiple successes. At RENEE, Ashutosh with co-founders Aashka Goradia Goble & Priyank Shah has brought the promise of professional & convenient beauty products at a pocket-friendly price. Ashutosh strongly believes in making brands that not only sell a product but add genuine value to the life of the consumers. This is evident from his earlier venture, Beardo, which created a category for itself as one of the digital grooming brands. Together, Ashutosh & Priyank led Beardo to its success with an exit from the brand with its acquisition by Marico. With RENEE Cosmetics, he aims to again create a brand that offers innovation & breaks the clutter of the beauty world. Ashutosh today is also the Co-founder of some of the fastest emerging start-ups of India such as Villain Lifestyle, and also serves as a mentor & advisor for several other startups.
Priyank Shah, Co-founder & Director, RENEE Cosmetics
A businessman by blood, brains and boldness, Priyank Shah is the Co-founder & Director of RENEE Cosmetics. Priyank’s knowledge of the beauty & lifestyle category goes beyond digital, combined with handling numerous offline marketing channels and leading the operations & product development at RENEE. His expertise is evident from his prior leadership at Beardo where Priyank was the man behind partnering with over 10000 salons and launching over 50 products in both online and offline markets. Priyank brings with himself the zeal to be one of the biggest brands in the country and his never back down attitude has already led to RENEE being a brand that’s looked upto by both consumers and peers. From building Beardo’s unique proposition to today, Priyank has been instrumental in bringing innovation to his products, as is visible from the iconic RENEE Fab 5-in-1 and Fab Face. His strategic outlook has led him to be a key mentor & advisor for multiple other startups. Priyank, along with Co-founder Ashutosh has also ventured into the men’s fashion space with the launch of their other brand Villain Lifestyle. Priyank has always wanted to be an entrepreneur and today, he is synonymous with being one of the most successful digital-first entrepreneurs of India.
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