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Renee Cosmetics raises $30M in series C round at $200M valuationn

YourStory

YourStory · 22d ago

Renee Cosmetics raises $30M in series C round at $200M valuationn

RENÉE Cosmetics, based in Ahmedabad, has secured $30 million in a Series C funding round, elevating its valuation to $200 million. Led by Playbook and existing investors like Evolvence India, the funds are intended to broaden the product line, enhance marketing, and strengthen its tech stack. The company aims to expand its omnichannel presence across Tier I and II cities and internationally, striving to double its annual revenue to ₹1,000 crore within two years.

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Exclusive: Indian, overseas firms mull investment in Renee Cosmetics

VCCircle

VCCircle · 1y ago

Exclusive: Indian, overseas firms mull investment in Renee Cosmetics

Indian beauty and personal care brand, Renee Cosmetics, is attracting interest from Indian and overseas companies for potential investments. The Ahmedabad-based company, which recently closed its Series B funding round, is considering strategic-style deals with interested investors. The details of the investments have not been disclosed yet.

Exclusive: RENEE Cosmetics to raise Rs 100 Cr at a valuation of Rs 1400 Cr

Entrackr

Entrackr · 1y ago

Exclusive: RENEE Cosmetics to raise Rs 100 Cr at a valuation of Rs 1400 Cr

Beauty brand RENEE Cosmetics is all set to mop up a new round led by existing investors, sources aware of the development told Entrackr. “Evolvence and Edelweiss are in the last leg of putting Rs 100 crore in Renee. The terms of the deal have been finalized and a formal announcement is likely to be out later this month,” said one of the sources requesting anonymity as discussions are private. In December 2022, RENEE scooped up $25 million in a Series B round led by Evolvence India with participation from Edelweiss Group and existing investors Equanimity and 9Unicorns (now 100 Unicorns). It has raised a total funding of $36 million to date across three rounds. As per sources, RENEE will be valued at around Rs 1,300-1,400 crore ($155-170 million) post money. This will be around 60% premium from its last valuation when the firm raised $100 million in Series B. Founded by Aashka Goradia Goble along with Beardo co-founders Priyank Shah and Ashutosh Valani, RENEE offers a wide range of eye makeup, lip colors, skin serums, and highlighters. Apart from selling on third-party e-commerce and quick commerce platforms, the firm also has presence over 650 shop-in-shop stores across India. Queries sent to RENEE, Evolvence and Edelweiss did not elicit any response until publication of the story. As per startup data intelligence platform TheKredible, Valani and Shah control 18.54% stake each in the company while Goble 17.52% stake as of Series B round. Among the external investors, Evolvence has more than 11% holding in the company. RENEE’s total revenue grew 3.1X to Rs 100.4 crore in FY23 from Rs 32.4 crore in FY22 whereas its losses also spiked 4.4X to Rs 32.6 crore during the same period. The firm claims to touch Rs 500 crore revenue threshold by 2024. It is yet to file its audited financial report for FY24. RENEE competes with conventional beauty brands like Lakme, as well as startups such as Sugar Cosmetics and MyGlamm, among others.

Rasa Raises $30M In Series C Funding - FinSMEs

Finsmes · 1y ago

Rasa Raises $30M In Series C Funding - FinSMEs

San Francisco-based conversational AI platform provider Rasa has secured $30m in a Series C funding round co-led by StepStone Group and PayPal Ventures. The investment, which also saw participation from Andreessen Horowitz, Accel, and Basis Set Ventures, will be used to expand the company's team and hire for various roles across North America and Europe. Rasa, whose AI powers chatbots for major banks, insurers, and travel companies, recently launched Rasa Pro and Rasa Studio with CALM, combining large language models with traditional chatbots for improved user engagement.

Renee Cosmetics’ revenue crosses Rs 100 Cr in FY23

Entrackr

Entrackr · 1y ago

Renee Cosmetics’ revenue crosses Rs 100 Cr in FY23

Ahmedabad-based beauty brand Renee Cosmetics experienced rapid growth, with its revenue surging 3.1 times to Rs 100.4 crore in FY23 from Rs 32.4 crore in FY22. However, the company also saw a 4.5 times increase in losses during the same period. Renee Cosmetics offers a cruelty-free range of eye makeup, lip colors, skin serums, and highlighters, available on various e-commerce platforms and over 650 shop-in-shop stores in India. Advertising costs accounted for a significant portion of the company's expenses, growing 3 times to Rs 60.1 crore in FY23.

Imbue raises $200M to build AI models that can 'robustly reason'

Robots · 1y ago

Imbue raises $200M to build AI models that can 'robustly reason'

Imbue, the AI research lab, has secured $200 million in a Series B funding round, valuing the company at over $1 billion. Investors include the Astera Institute, Nvidia, Cruise CEO Kyle Vogt, and Notion co-founder Simon Last. Imbue focuses on developing AI models with robust reasoning and coding abilities, addressing a key challenge in AI development. The funding will accelerate the creation of AI systems capable of robust reasoning and coding, allowing them to effectively achieve broader goals in the real world.

AI infrastructure company fal raises $125 million, valuing company at $1.5 billion - The Economic Times

Economic Times

Economic Times · 29d ago

AI infrastructure company fal raises $125 million, valuing company at $1.5 billion - The Economic Times

AI infrastructure company Fal raised $125 million in a Series C funding round, valuing it at $1.5 billion. The round was led by Meritech, with participation from Salesforce Ventures, Shopify Ventures, and Google AI Futures fund. Fal, based in San Francisco, specializes in running audio, video, and image models for enterprises, facilitating the creation of varied visual content for ecommerce and advertising. Existing investors also participated in the round.

Spinny raises $30M from WestBridge as part of its Series F round

YourStory

YourStory · 2m ago

Spinny raises $30M from WestBridge as part of its Series F round

Spinny, a used car marketplace, raised $30 million in primary capital from WestBridge Capital, bringing its Series F funding round to a total of about $170 million. This round follows $131 million raised earlier from Accel, Fundamentum, Tiger Global, and others. The funds will aid Spinny in establishing a non-banking financial company and growing Autocar India. The company reported a 14% revenue increase to Rs 3,725 crore for FY24, alongside a 28% decline in losses.

AppsForBharat raises ₹175 crore in funding round led by Susquehanna Asia Venture

Livemint

Livemint · 2m ago

AppsForBharat raises ₹175 crore in funding round led by Susquehanna Asia Venture

AppsForBharat, a Bengaluru-based startup running the devotional app Sri Mandir, raised ₹175 crore in a Series C funding round led by Susquehanna Asia Venture Capital. The funding round nearly doubled the company's valuation to $175 million since September 2024. AppsForBharat facilitated 52 lakh online pujas at over 70 temples and achieved a revenue rate of ₹100 crore in FY25. Existing investors include Nandan Nilekani’s Fundamentum, Elevation Capital, and Peak XV Partners.

ETtech Deals Digest: Startups raise $219 million this week, down 43% on-year - The Economic Times

Economic Times

Economic Times · 21d ago

ETtech Deals Digest: Startups raise $219 million this week, down 43% on-year - The Economic Times

Startups raised approximately $219 million between August 2 and 8, a 43.4% decrease from the previous year's $386.6 million. However, funding increased by 74.2% from the previous week. The number of deals fell to 29, compared to 40 in the same week last year. Notable deals included The Sleep Company raising Rs 480 crore, Alaan securing $48 million, Renee Cosmetics gaining $30 million, and SuperGaming attracting $15 million in investments.

ETtech Deals Digest: Startup funding drops 28% on year to $97 million this week

Economic Times

Economic Times · 1y ago

ETtech Deals Digest: Startup funding drops 28% on year to $97 million this week

Startups raised $97 million in the second week of June, experiencing a 28% decrease compared to the same period last year. This represents a 70% reduction from the previous week's total of $326.1 million. Startups secured funding from 13 rounds, mostly at the early stage, compared to 34 rounds in the same period last year. Indkal Technologies raised $36 million, accounting for 38% of the total funding raised. Other notable investments include Ethereal Machines with $13 million, Smartworks with $12 million, Hocco with $12 million, and Renee Cosmetics with $12 million.

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