Renee Cosmetics raises Rs 100 Crore in series B funding round

Ahmedabad-based beauty brand Renee Cosmetics has raised Rs 100 crore ($12 million) in a series B funding round led by Evolvence India and Edelweiss Group.

The company will utilise the funds to scale its operations, diversify its product portfolio, and expand its omnichannel presence.

Commenting on the funding, Ashutosh Valani, co-founder director at Renee Cosmetics in a statement said, “Our goal is to set new industry standards and create a positive impact on our customers and the beauty industry. This funding round will enable us to push the boundaries of beauty innovation and reach new heights in delivering products that encourage and celebrate diverse beauty.”

Abhishek Chandra, managing director at Evolvence India added, “This investment fuels their vision of becoming a disruptive force by offering a wider range of high-quality products accessible through all channels. We believe Renee’s growth potential aligns perfectly with our investment strategy, and we’re excited to be a part of their journey.”

Renee Cosmetics currently has over 200 products in its beauty and perfume categories. The brand sells through its website along with major e-commerce platforms such as Amazon, Flipkart, Nykaa, and Myntra, as well as at over 1200 shop-in-shop stores across the country.