Renee Cosmetics, a makeup brand, has raised Rs 100 crore in Series B funding round. This round was led by existing investors Evolvence India and Edelweiss Group, bringing the company’s valuation to Rs 1200-1400 crore.
According to Priyank Shah, Co-Founder of Renee Cosmetics, the fresh capital will enable the company to broaden its product range and enhance its omnichannel presence. “With this investment, we can introduce a more extensive product portfolio, making Renee a one-stop destination for all your beauty needs. We want to increase our omnichannel presence as we are poised to become a leading force in the Indian beauty industry and a global symbol of inclusivity and innovation,” Shah stated.
Renee Cosmetics has surpassed the Rs 350 crore annual recurring revenue (ARR) mark. The company’s valuation has surged by 60 per cent from its previous round in December 2022, where it was valued at approximately Rs 850 crore (USD 100 million). To date, Renee has raised a total of USD 45 million across all funding rounds.
The brand’s extensive portfolio includes over 200 products in the beauty and perfume categories. These products are available on Renee's official website and major ecommerce platforms like Amazon, Flipkart, Nykaa, and Myntra, along with 1200 shop-in-shop stores nationwide. Additionally, Renee has established an online beta presence in international markets such as the US, UAE, and Australia.
