RENÉE Cosmetics, an up-and-coming Indian brand that sells directly to customers, just got a $30 million Series C funding boost. Playbook led the round, with some help from Midas.
This new cash puts the company’s value at $200 million, which is about 1.4 times more than what it was in June 2024. D2C brands in India are getting bigger fast by selling everywhere, thinking up cool new products, and working with influencers.
RENÉE Cosmetics, with its 200+ products, is already a major player among brands with venture capital backing Brands. They sell all sorts of beauty and skincare stuff like eye makeup, lipsticks, serums, and – all priced reasonably and made to keep up with the latest trends.
Ashutosh Valani and Priyank Shah, who started Beardo, and Aashka Goradia Goble are backing RENÉE. The company plans to use the money to grow, make its store strategy stronger, and open more shops in big and mid-sized cities. They’re also putting money into new product releases, brand stories, and marketing that gets results.
According to Ashutosh Valani, Co-founder of RENÉE, this cash will help them ramp up marketing, get customers for less, and get more people to buy their stuff on their own website and on marketplaces. They’re currently making Rs 500 crore a year and want to hit Rs 1,000 crore in two years.
Investors who are keeping an eye on the Indian D2C scene are showing interest in RENÉE’s growth. TheKredible, a startup data platform, says the brand has raised about $76 million so far, with money from Evolvence India, Edelweiss, Equanimity Ventures, and 100Unicorns.
RENÉE’s numbers show how strong the D2C thing is in India. Sales almost doubled in FY24 to Rs 191.65 crore from Rs 97.15 crore in FY23. But losses also went up to Rs 61.45 crore, which is about 88.2% more than last year. That suggests they’re spending a lot to grow fast.
RENÉE is trying out selling in the US, UAE, and Australia. Right now, they sell in 15,000+ stores and online, including fast commerce sites and big marketplaces.
This funding round is a big step for RENÉE as they change from just growing fast in India to becoming a well-known brand all over the world who is led by creators. They’re blending tech, stores, and stories, which puts them among the top-funded brands in India’s growing D2C world.
The team behind RENÉE has built and sold brands like Beardo and Villain before. This new milestone with RENÉE is making people excited about D2C funding news trends, and the idea of direct-to-consumer startups.
