Homegrown beauty brand RENÉE Cosmetics has raised $30 million in a fresh Series C funding round at a valuation of $200 million. The round was led by Playbook with participation from Midas through a mix of primary and secondary investments. Existing backers, including Evolvence India and Edelweiss, also continue their support.
The brand, which has seen nearly 3X growth over the past 18 months, attributed its success to strong consumer adoption, rapid omnichannel expansion, and a consistent pipeline of innovative product launches.
RENÉE currently boasts a portfolio of over 200 SKUs. With the new infusion of capital, the brand aims to:
- Scale its product portfolio
- Enhance technology capabilities
- Strengthen marketing efforts
- Deepen its offline presence, especially across Tier 1 and Tier 2 cities
Ashutosh Valani, Co-founder of RENÉE Cosmetics said, “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.”
“RENÉE was founded with a vision to merge ethics with innovation, and we remain committed to delivering differentiated, quality-driven beauty solutions that connect with today’s empowered consumer,” said Aashka Goradia Goble, Co-founder & CMO, RENÉE Cosmetics.
“One of the biggest gaps we identified early on was the lack of depth in offline execution among new-age beauty brands,” said Priyank Shah, Co-founder of RENÉE Cosmetics. With this round, we plan to build a scalable distribution engine, strengthen retail presence in untapped locations, and ensure consistent brand experience on-ground. Offline will be key to our next phase of sustainable growth.”
“India, a country known for its beauty, is now embarking upon the next wave of consumption in the cosmetics and personal care category – driven by a social media savvy, digitally native generation. The young consumer is increasingly seeking authenticity, inclusivity, and innovation in their choices. Renée is leading that growth, especially in Tier 2+ markets. We’re excited to bring our deep operating insights from having built India’s largest companies, to partner with a brand that’s growing exponentially to be the leader in this business in India,” said Vikas Choudhury, Founding and Managing Partner Playbook.
Abhishek Chandra, Partner at Evolvence Equity Partners, shares, “We’ve been proud supporters of Renée since its formative years and are pleased to see strong investor interest in the company’s vision and execution. This fundraise marks an important milestone in its next phase of growth.”
Currently available in 15,000 retail outlets and across major e-commerce platforms such as Amazon, Flipkart, Nykaa, and Myntra, RENÉE sees significant growth potential, especially in offline retail. The brand also has a beta online presence in international markets like the US, UAE, and Australia.
With a blend of innovation, affordability, and consumer-centricity, RENÉE Cosmetics is positioning itself for aggressive growth both in India and globally.
