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Bombay Shaving Company raises Rs 136 Cr ahead of planned IPO

EntrackrEntrackr · 6d ago
Bombay Shaving Company raises Rs 136 Cr ahead of planned IPO
Medial

Bombay Shaving Company raises Rs 136 Cr ahead of planned IPO Men’s grooming brand Bombay Shaving Company has closed a funding round of Rs 136 crore ($15.3 million) in a combination of primary and secondary infusions. The round was led by Sixth Sense Ventures, with participation from founder and CEO Shantanu Deshpande, Patni Family Office, GII and HNIs, and ex-Indian cricketer Rahul Dravid. According to TheKredible, the Gurugram-based company has raised a total of $51.5 million in previous funding rounds. The fresh proceeds will be allocated towards expanding its omnichannel presence, deepening retail reach, and investing in capabilities and brand-building to strengthen leadership across high-growth segments, Bombay Shaving Company said in a press release. Founded in 2015 by Shantanu Deshpande, Bombay Shaving Company offers a wide range of products for men and women across categories like shaving, hair care, beard care, and skin care, and has expanded to include a women's hair removal line. This fundraise marks a strategic step toward consolidation as the brand prepares for a potential IPO. According to the company, it has reported a net revenue run rate of over Rs 550 crore and achieved PAT profitability, doubling its performance compared to FY25. “Focusing on fast-evolving consumer needs, designing never-seen-before high quality products at competitive prices, and building brand remains core to what we do. We intend to continue this performance and take the company public soon. The idea is to do it sooner rather than later and carry the retail investor on our growth journey,” said Deshpande. The brand claims to have garnered strong double digit market shares in core categories with particular growth in trimmers and electric shavers as well as the women’s category through brand Bombae. Bombay Shaving Company competes with Ustraa, Beardo, and The Man Company in the grooming segment.

Bombay Shaving Company crosses Rs 200 Cr revenue in FY24; cuts losses by 22%

EntrackrEntrackr · 11m ago
Bombay Shaving Company crosses Rs 200 Cr revenue in FY24; cuts losses by 22%
Medial

Bombay Shaving Company, a grooming and personal care brand, narrowed down its losses to Rs 62.15 crore in FY24, making a notable improvement from Rs 80.25 crore in FY23. Meanwhile, its operating scale also crossed the Rs 200 crore revenue mark in the last fiscal year. Bombay Shaving Company’s revenue from operations surged 27.38% to Rs 225.85 crore in FY24 from Rs 177.30 crore in FY23, its consolidated financial report sourced from the Registrar of Companies (RoC) shows. Bombay Shaving Company is a D2C grooming and personal care startup with a portfolio of a wide range of products including shaving cream, haircare, skincare, and beard care products. The sale of these products was the sole source of revenue for the company in the last fiscal year. The company made an additional Rs 7.6 crore from interest income which pushed its total revenue to Rs 233.4 crore in FY24. For the men's grooming brand, the cost of material was the largest component of BSC’s expenses, increasing by 34.39% to Rs 118.76 crore in FY24. The advertising and employee benefits costs rose marginally to Rs 85.90 crore and Rs 36.79 crore, respectively. Its delivery and handling charges declined by 9.41% to Rs 18.78 crore, respectively, while other expenses remained stable at Rs 35.34 crore. Overall, total expenses for Bombay Shaving Company increased to Rs 295.57 crore in FY24 from Rs 262 crore in FY23. The Gurugram-based Company managed to reduce its net loss by 22% to Rs 62.2 crore in FY24. Its ROCE and EBITDA margin stood at -74.66% and -22.90%, respectively. On a unit basis, the company spent Rs 1.31 to earn a rupee in FY24. The firm reported Rs 203 crore of current assets in FY24 including Rs 72.5 crore of cash and bank balance. According to TheKredible, Bombay Shaving Company has raised a total of $51.5 million in funding to date. Its lead investors include Sixth Sense Ventures, Colgate-Palmolive, Malabar Investments, Reckitt, and Patni & Family. Bombay Shaving Company competes with Ustraa, Beardo, and The Man Company in the grooming segment. Ustraa reported a 2.94% revenue decline to Rs 94.02 crore and a loss of Rs 50 crore in FY24. Meanwhile, Beardo’s revenue from operations rose to Rs 173.2 crore, and The Man Company saw a 58% increase in revenue, reaching Rs 182 crore.

Hunger Inc raises Rs 215 Cr from Lighthouse and DSG Consumer Partners

EntrackrEntrackr · 1m ago
Hunger Inc raises Rs 215 Cr from Lighthouse and DSG Consumer Partners
Medial

Hunger Inc raises Rs 215 Cr from Lighthouse and DSG Consumer Partners Hunger Inc, the parent company of Bombay Sweet Shop and restaurant brands Bombay Canteen, Veronica’s, O Pedro and Papa’s, has raised Rs 215 crore (nearly $25 million) in a new funding round from Lighthouse and DSG Consumer Partners. The round also saw some of its early investors, including CP Gurnani and a few angels, exit via secondary deals. The Mumbai-based company had previously raised $1.69 million in a seed funding round. The Godrej family office is an existing backer of Hunger Inc. The proceeds will be used to expand its production and supply chain capabilities as it looks to increase its footprint outside Mumbai, Hunger Inc said in a media statement. Founded in 2014 by Sameer Seth, Floyd Cardoz, and Yash Bhanage, Hunger Inc operates restaurants, a food magazine, and promotes a team-oriented work culture. Bombay Sweet Shop, its retail brand for Indian sweets, chocolates, and confectionery, now contributes over half of the group’s total revenue. In fiscal 2025, the company clocked Rs 115 crore in revenue with a 9% Ebitda margin and it is expecting to post a topline of Rs 150 crore in FY26. Bombay Sweet Shop is tracking Rs 8-9 crore in monthly revenue. Currently present only in Mumbai, Hunger Inc is planning to expand to Delhi and set up a flagship Bombay Sweet Shop there over the next 12-18 months. At present, the brand has five retail outlets and 18 dark stores, through which it makes direct deliveries from its own website and also through aggregators Swiggy and Zomato. Hunger Inc aims to scale its business-to-business (B2B) and institutional sales. The company supplies to cafe chain Starbucks as well as Oberoi Hotels. Bombay Sweet Shop also recently onboarded IndiGo for in-flight items in the international business class.

Innovist raises Rs 136 Cr led by ICICI Venture; Accel exits

EntrackrEntrackr · 7m ago
Innovist raises Rs 136 Cr led by ICICI Venture; Accel exits
Medial

Innovist, the parent company of Bare Anatomy, has raised Rs 136 crore (approximately $16 million) in a Series B funding round led by ICICI Venture. The round saw participation from Mirabilis Investment Trust, Niveshaay Investment, and existing backer Sauce. The funding round includes both primary and secondary components and will be directed toward product development, business growth, and team expansion, the company said in a media release. In the round, the company provided exit to Accel, which came in via their seed program (atoms). Rohit Chawla, founder and CEO, said that Innovist is one of the fastest-growing BPC (beauty and personal care) firms in the country and aims to cross Rs 300 crore in revenue by FY25. While the company has not yet filed its annual statements for FY24, it reported operational revenue of Rs 36.53 crore in FY23, along with a loss of Rs 16.87 crore. Innovist, previously known as Onesto Labs, was founded in 2018 by Chawla, Sifat Khurana, and Vimal Bhola. The company provides personal care products and currently manages three brands: Bare Anatomy, Chemist at Play, and Sunscoop. To date, Innovist has raised over $26 million, including a $7 million Series A round led by the Amazon Smbhav Venture Fund. According to startup data platform TheKredible, prior to this round, Sauce.VC was the largest external stakeholder, followed by 72 Ventures, Accel India, and the Amazon Smbhav Fund. It competes with D2C beauty brands like Minimalist, Mamaearth, Wow Skin Science, and Sugar Cosmetics.

Euler Motors raises Rs 638 Cr in Series D funding round

EntrackrEntrackr · 6m ago
Euler Motors raises Rs 638 Cr in Series D funding round
Medial

Euler Motors raises Rs 638 Cr in Series D funding round Commercial electric vehicle manufacturer Euler Motors has raised Rs 638 crore (approximately $75 million) in its Series D round, led by Hero MotoCorp, along with participation from existing investor British International Investment (BII). This latest infusion will be instrumental in expanding the company’s sales and service network, while advancing new product development to accelerate India’s commercial EV adoption. Last month, the company announced a $60 million investment from Hero MotoCorp. Entrackr also reported that British International Investment and Caladium Investment (GIC) contributed Rs 96 crore ($11.3 million) and Rs 32 crore ($3.76 million), respectively, in the Series D round. According to Entrackr’s estimates, Euler Motors' valuation remains flat at $176 million. Euler Motors has secured investments from prominent backers such as Blume Ventures, Athera Partners, Asian Development Bank Ventures, and the Piramal Alternatives India Access Fund. With the latest funding round, the company's total capital raised stands at approximately Rs 1,420 crore. Launched in 2018, Euler Motors specializes in the production of EV three-wheelers. The company has seen strong adoption across the e-commerce, retail, and logistics segments, backed by a growing portfolio of electric vehicles, including the HiLoad EV and the StormEV. “This is a strong vote of confidence both in India’s commercial electric mobility future and in Euler Motors’ execution and products. With this fresh capital and strategic backing from new and existing investors, we are poised to accelerate our scale, continue innovating to deliver superior products, and come a few steps closer towards becoming India’s No. 1 commercial EV brand,” said Saurav Kumar, founder and CEO of Euler Motors. Euler Motors reported a more than threefold increase in operating revenue year-on-year to Rs 189 crore in FY24 from Rs 62 crore in FY23. Despite this growth, the company posted a loss of Rs 227 crore during the same period. Euler competes with players like Altigreen, Mahindra Electric, Piaggio, Kinetic Green, Tata, and others.

Relso raises $840K in pre-Seed round led by Venture Catalysts, IPV

EntrackrEntrackr · 1y ago
Relso raises $840K in pre-Seed round led by Venture Catalysts, IPV
Medial

Bengaluru-based Relso has raised $840,000 in a pre-seed round co-led by Ventures Catalysts and Inflection Point Ventures. Investors such as Ramakant Sharma (Livspace founder and Global COO), Shantanu Deshpande (Bombay Shaving Co-founder), and Saurabh Jain (Livspace India CEO) also joined the round. The fresh capital will be used for expansion, talent acquisition, team and more, the company said in a press release. Co-founded in early 2023 by Anshul Choubey, Abhinav Agarwal, and Jay Trivedi, Relso describes itself as a ‘cloud factory’ for furniture under the vision of ‘Make in India and sell globally’ motto. The company essentially supplies a wide range of furniture to brands and retailers. Its offerings include different design options, low MOQs, customization, and more. Recently, Venture Catalysts backed lab-grown diamond brand Fiona Diamonds for Rs 6 crore in its seed round.

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