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D2C Brand Renee Cosmetics Raises $25 Mn In Series B Funding

Renee has proven to be one of the fastest beauty brands to breach Rs 100 crore ARR

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Renee Cosmetics, the Ahmedabad-based leading direct-to-consumer beauty brand, has raised USD 25 million in a Series B funding round led by Evolvence India and Edelweiss Group. 

The company’s existing investors Equanimity and 9Unicorns also participated in the funding at a valuation of USD 100 million, Renee Cosmetics said in a statement on Tuesday.

The company said the funding will help towards building its mission of making Renee Cosmetics a globally recognised Indian beauty brand. "This also leads to creating a USD 100 million valuation for the brand in only a bit over two years of operations. This is inclusive of a total of USD 35 million across three rounds of funding,” the company added.

"Renee has already proven to be one of the fastest beauty brands to breach Rs 100 crore ARR (Annual Recurring Revenue). Further, the brand aims to grow 100 per cent quarter by quarter," the statement said.

Renee Cosmetics, which commenced operations post-pandemic in 2020, has over 200 products under its beauty and perfume portfolio. The products are sold across major e-commerce platforms and its website. The brand is also available at over 650 shop-in-shop stores.