Renee Cosmetics, a beauty brand, raised $ 10 million in a Series A round headed by Mensa Brands on Friday. Existing investors, such as Equanimity Investments and 9Unicorns, participated in the round as well.
RENEE Cosmetics is a cruelty-free cosmetic brand founded in 2019 by Aashka Goradia Goble and Beardo co-founders Ashutosh Valani and Priyank Shah. It offers a wide range of eye makeup, lip colours, face serums, and highlighters. The company has been releasing unique items one after the other, and it now has a portfolio of about 30 products in three categories.
Commenting on the fundraise, Priyank Shah, Co-founder, RENEE Cosmetics, said, “We have achieved 400 percent growth this quarter and have set ambitious targets for the brand going forward. This year, we are going to focus on expanding our product catalogue, marketing, and increasing our offline presence across the country.”