MUMBAI : Direct-to-consumer startup Renee Cosmetics Pvt. Ltd is in talks to raise over ₹200 crore from new investors in a mix of primary and secondary transactions, according to three people familiar with the matter. The startup is currently conducting due diligence. Several new investors, including Playbook Partners India, Spark Capital’s Midas Investments, and Infinity Investments, are eyeing a stake in the company, said two of three people, on condition of anonymity.Also Read | Beauty on a budget: Sugar Cosmetics targets Gen Z with affordable glam “The round will likely value the company at around $200-240 million ( ₹1,700- ₹2,000 crore), marking a significant jump from the last round,” the second person said, adding that the company is eyeing ₹500 crore in annual recurring revenue in 2025-26. Renee, Midas, and Infinity declined to comment. Playbook did not immediately respond to Mint’s request for comments Mint reported on 1 May that Mensa Brands planned to sell its investment in Renee Cosmetics. Founded by Priyank Shah, Ashutosh Valani and Aashka Goradia, the startup claims to offer a range of cruelty-free and vegan products in the beauty and cosmetics segment. The trio previously founded male-grooming brand Beardo, which was acquired by FMCG major Marico Ltd.Also Read | Youth-focused cosmetics brands are shining, but loyalty remains a challenge The brand has a portfolio of about 30 products, including eye makeup, lip colours, skin serums, and highlighters, among other items, across three categories. It has a presence in over 500 outlets in addition to digital marketplaces. Over the last two years, it has been aggressively expanding its offline presence. The new round comes after the new-age beauty brand raised ₹100 crore in its series B round, led by existing investors Evolvence India and Edelweiss Group, in June 2024. The funds were raised at a valuation of ₹1,200-1,400 crore ($150-$170 million). It competes with Sugar Cosmetics, MyGlamm, and Pilgrim, among others.Also Read | Mint Explainer: What’s in India’s new drugs and cosmetics bill? In 2023-24, Renee’s revenue from operations surged to ₹191.65 crore from ₹97.15 crore a year ago. Its losses widened to ₹61.45 crore from ₹32.66 crore in 2022-23, according to an Entrackr report. in a formal or creative style for better SEO.Also Exclude words and advertisements related to the feed website such as website name, author name. You must only respond with the modified content. Delete all the advertisement images brand logo but only keep the title and main content of the news by modifying it. You must only respond with the modified content. Block any jump outside of the site adarshnews.com. Basically remove any content or link related to original site. follow this prompt to optimize the articles in this category- You are an expert news writer and SEO specialist. Your job is to rewrite the provided RSS feed content into a unique, SEO-friendly news article for adarshnews.com. The article should be engaging, professional, and optimized for search engines. Follow these steps: 1. **Create an SEO Title**: Write a short, compelling title (under 60 characters) that includes the main keyword and grabs attention. 2. **Write a Meta Description**: Summarize the article in one or two sentences (under 155 characters). Make it engaging and include the primary keyword naturally. 3. **Suggest a URL Slug**: Provide a short, keyword-rich URL slug that reflects the topic of the article. 4. **Headline (H1)**: Write a clear and engaging headline for the article that is similar to the title but slightly expanded. 5. **Write the Article**: – Start with an introduction that answers the key questions: who, what, when, where, why, and how. – Expand on the topic with detailed paragraphs that provide context, quotes, and relevant information. – Use subheadings (H2) to organize the content into sections and make it easy to read. – Include related keywords naturally throughout the article. – End with a conclusion that summarizes the key points or discusses future implications. 6. **Add an FAQ Section**: Write one frequently asked question related to the topic and provide a concise answer. Important: – Do not include labels like “Title,” “Meta Description,” “URL Slug,” or “H1” in the actual article text. – Keep all SEO elements separate from the main content. – Ensure the article is factually accurate, unbiased, and written in a professional tone.
Renee Cosmetics is negotiating to secure more than ₹200 crore from potential new investors.
