Renee Cosmetics announced on Friday that it has secured $1.5 million in a pre-Series A round headed by Equanimity Ventures and 9Unicorns, with Titan Capital participating.
Rajesh Sehgal of Equanimity Ventures, Apoorv Ranjan Sharma of 9Unicorns, and Kunal Bahl and Rohit Bansal of Titan Capital were among the lead investors in the round.
The money will be used to improve the Indian beauty brand’s ability to innovate, retain, and develop its internet presence while also expanding its offline presence.
Commenting on the investment, Aashka Goradia Goble, Director and Co-founder, RENÉE Cosmetics, said, 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.”
Speaking on the funding, Apoorv Ranjan Sharma from 9Unicorns, said, “Ashutosh and Priyank have proven their mettle in building successful brands. Their experience, along with Aashka’s vision, knowledge, and leadership style, is sure to lead RENEE to even greater heights of innovation and 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.”
Adding to this, 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.”