RENÉE Cosmetics raises $25M in Series B funding
Summary
Ahmedabad-based makeup brand Renee Cosmetics has raised $25 million in Series B funding round led by Evolvence India. The deal was facilitated with the support of Spark Financial Holdings.Abhishek Chandra, Managing Director, and Ajit Kumar, Managing Partner at Evolvence India, said,With this funding, the company is moving towards building its mission of making RENEE Cosmetics a globally-recognised Indian beauty brand. This also leads to creating a $100 million valuation for the brand in a little over two years of operations, which is inclusive of a total of $35 million across three rounds of funding, RENEE Cosmetics said in a statement.Ashish Agarwal, Managing Partner at Edelweiss Group, said, "We are thrilled to partner with REN\xc9E Cosmetics. "As per the official release, the Series B funding will further enhance RENEEs Indian and international growth by allowing the company to develop more products, marketing initiatives, and grow its team. The products are available on REN\xc9Es website, across major ecommerce platforms such as Amazon, Flipkart, Nykaa, and Myntra, as well as at 650+ shop-in-shop stores across the country.