RENEE Cosmetics raises Rs 100 Cr

Beauty brand RENEE Cosmetics is poised to raise a new round led by existing investors Evolvence and Edelweiss, reportedly amounting to Rs 100 crore. Sources indicate the deal terms have been finalized, with an official announcement expected later this month. \r

Founded by Aashka Goradia Goble, along with Beardo co-founders Priyank Shah and Ashutosh Valani, RENEE offers a diverse range of beauty products. It previously secured $25 million in December 2022, bringing its total funding to $46 million across three rounds. RENEE anticipates a post-money valuation of Rs 1,300-1,400 crore ($155-170 million), marking a 60% premium from its last valuation. \r

The brand aims to achieve Rs 500 crore in revenue by 2024 amidst competitive pressures from established and startup beauty brands.