Dabur Ventures marks its maiden investment by leading a $7.5M round for skincare startup RAS

Indian skincare startup RAS Luxury Skincare has raised $7.5 million in a Series B funding round led by Dabur Ventures, the investment arm of consumer goods giant Dabur India, the company said on Tuesday.

The funding round also saw participation from existing investor Unilever Ventures, alongside the Amazon Smbhav Venture Fund and Sixth Sense Ventures.

The deal highlights a growing trend among legacy fast-moving consumer goods (FMCG) companies investing in direct-to-consumer (D2C) startups to modernise their portfolios. Dabur India launched its Rs 500 crore investment fund last October. The capital for Dabur Ventures is funded entirely by Dabur’s balance sheet to acquire stakes in high-potential, digital-first businesses aligned with the company's long-term strategic vision.

"We’re charting a bold path by backing progressive ventures in Personal Care, Health Care, Wellness Foods, Beverages, and Ayurveda," Dabur India CEO Mohit Malhotra stated in a blog post. He added that the investments will act as a growth engine to fast-track the company's shift toward premium offerings.

Founded by Shubhika Jain, Suramya Jain, and Sangeeta Jain, the firm plans to expand its digital footprint and physical exclusive brand outlets, while also targeting international markets.

RAS, which operates a vertically integrated "farm-to-face" model by growing botanicals on family-owned farms, said it will use the capital to expand its omnichannel retail presence and research and development capabilities. The company currently reports an annual recurring revenue (ARR) of approximately Rs 1 billion ($12 million) and a three-year revenue compound annual growth rate of 75%.

"The Indian luxury beauty segment is evolving fast and a category-defining brand like RAS is poised to be at the forefront of this evolution," Abhinav Dhall, Executive Director at Dabur India, said in a statement.

This strategy mirrors aggressive portfolio expansion by peers like Marico. Last month, Marico announced it will acquire a 60% stake in plant-based nutrition brand Cosmix for Rs 225.67 crore.

Marico has been actively acquiring D2C brands including Plix, Beardo, Just Herbs, and popcorn maker 4700BC to achieve its target of doubling total revenue to Rs 20,000 crore by 2030.