Renee Cosmetics has announced that it has raised $1.5 million in Equanimity Ventures and 9Unicorns led pre-Series A funding round. Titan Capital also participated in the latest round.
The round also saw participation from investor Rajesh Sehgal – Equanimity Ventures, Apoorv Ranjan Sharma- 9Unicorns, and Titan Capital’s Kunal Bahl and Rohit Bansal.
Speaking on the annoucement, Aashka Goradia Goble, Director and Co-founder of RENÉE Cosmetics, commented, “To be able to solve the daily needs of the modern Indian woman and 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 RENÉE.”
Equanimity Ventures’s Rajesh Sehgal, stated, “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.”
Ashutosh Valani, Co-founder and Director at RENEE Cosmetics, added, “We are ecstatic to be growing RENÉE 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. We’re here to lead with innovation and newness in an otherwise saturated industry, and as we grow, our products will continue being testament to that.”
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.