RENÉE Cosmetics, a D2C beauty brand, has raised $30 million in a Series C funding round led by Playbook with secondaries from Midas, including a mix of primary and secondary investments.
The investment was raised at a valuation $200 million.
The fresh funds raised will be used to expand its product portfolio, scale omnichannel presence across Tier 1 and Tier 2 cities and invest further in technology and brand-building initiatives.
Founded in 2019 by Aashka Goradia Goble in collaboration with Beardo co-founders Priyank Shah and Ashutosh Valani, RENÉE Cosmetics offers a wide range of makeup and skincare products. Its portfolio includes lipsticks, eye makeup, highlighters, skin serums, and perfumes.
The brand is present in over 15,000 retail outlets across India and is also available on major e-commerce platforms such as Amazon, Flipkart, Nykaa, and Myntra.
RENÉE is expanding globally with a beta online presence in the US, UAE, and Australia.
The brand has grown nearly 3X in the past 18 months, and has a growing portfolio of over 200+ SKUs.
Ashutosh Valani, Co-founder of RENÉE Cosmetics, said, “We are happy to partner with Playbook for our new funding round and to be backed by Evolvence India and Edelweiss. 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.”
Aashka Goradia Goble, Co-founder & CMO, RENÉE Cosmetics, said, “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. As someone deeply involved in product and innovation, this funding allows us to fast-track R&D and roll out cutting-edge formats that blend performance with global beauty trends. Our goal is to consistently surprise and delight the consumer.”
Priyank Shah, Co-founder of RENÉE Cosmetics, said, “One of the biggest gaps we identified early on was the lack of depth in offline execution among new-age beauty brands. 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.”
Vikas Choudhary, Founding and Managing Partner, Playbook, said, “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.”
