Mumbai-based beauty brand RENEE Cosmetics has raised $30 million (approximately ₹263 crore) in its latest Series C funding round, lifting its valuation to $200 million (₹1,755 crore). The round was led by Playbook, with secondary transactions by Midas, marking a near 50 percent jump in valuation from its previous fundraise in June 2024.
Founded in 2018 by television actor-turned-entrepreneur Aashka Goradia Goble along with Beardo co-founders Ashutosh Valani and Priyank Shah, RENEE has emerged as one of the fastest-growing direct-to-consumer players in India’s crowded beauty and personal care space.
The company plans to use the fresh capital to widen its offline footprint in tier I and II cities, launch new product lines, and ramp up technology investments. RENEE currently offers over 200 SKUs across categories such as lipsticks, eye makeup, serums, highlighters, and perfumes. The products are available online, in general and modern trade stores, and via quick commerce platforms.
Ashutosh Valani, co-founder of RENEE, said the company has reached an annualised revenue run rate (ARR) of ₹500 crore and is eyeing ₹1,000 crore within two years. “We’re focused on improving conversion and lowering customer acquisition costs across both D2C and marketplaces,” he added.
RENEE’s current distribution spans 15,000 retail outlets, and the brand has also begun testing international waters with early launches in the US, UAE, and Australia.
This latest fundraise follows a string of successful rounds, including ₹100 crore in an extended Series B round from Evolvence India and Edelweiss Group. The brand also previously raised $25 million and $10 million in Series B and Series A rounds, respectively.
RENEE competes with Sugar Cosmetics, MyGlamm, and Tira, all of which are actively scaling in India’s $25 billion beauty market.
