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

Beauty brand RENÉE Cosmetics has raised $30 million in a Series C funding round, valuing the company at $200 million. The round was led by Playbook, with participation from existing investors Evolvence India, Edelweiss, and Midas Partners. The round was a mix of primary and secondary capital.

The Ahmedabad-based brand said the funds will be used to expand its product portfolio, scale omnichannel presence across Tier I and Tier II cities, strengthen marketing efforts, and enhance its tech stack.

"The young consumer is increasingly seeking authenticity, inclusivity, and innovation in their choices. Renée is leading that growth, especially in Tier 2+ markets," said Vikas Choudhary, Founding and Managing Partner of Playbook, in a press note.

The brand has tripled its grown over the last 18 months, driven by its omnichannel exapnsion strategy, consumer traction, and innovative products.

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Founded in 2020, RENÉE operates across major online marketplaces and has established a presence in over 1,200 shop-in-shops and exclusive brand outlets. It is also expanding internationally, with a beta online presence in the US, UAE, and Australia.

"This capital further gives us the firepower to scale our marketing engine, optimise consumer acquisition costs, and drive better conversion across both D2C and marketplace platforms. We’ve already achieved an annual revenue run rate (ARR) of ₹500 crore and are confident of doubling this to ₹1,000 crore in the next two years," said Ashutosh Valani, Co-founder of RENÉE Cosmetics.

RENÉE had previously raised $25 million from Evolvence India, Edelweiss Discovery Fund, and others.The brand competes with D2C and established players in the beauty and personal care space such as Sugar Cosmetics, Lakme, Insight and L'Oréal-owned NYX.