Renee Cosmetics Raises $30M Series C at $200M Valuation

Renee Cosmetics, a direct-to-consumer beauty brand, has raised $30 million in a Series C funding round led by Playbook with secondary investments from Midas, bringing its valuation to $200 million. The funding will support expanding its product portfolio, scaling its omnichannel presence in Tier 1 and Tier 2 cities, and investing in technology and brand-building initiatives. Co-founder Ashutosh Valani highlighted that the capital will help scale marketing, optimize consumer acquisition costs, and improve conversion rates across D2C and marketplace platforms. Renee Cosmetics has achieved an annual revenue run rate of Rs 500 crore and aims to double this to Rs 1,000 crore within two years. The brand, founded by Aashka Goradia Goble with Beardo co-founders Ashutosh Valani and Priyank Shah, sells over 200 SKUs across makeup and skincare, with presence in 15,000 outlets and e-commerce platforms, and is expanding internationally in the US, UAE, and Australia. The company plans to accelerate offline expansion and create a consistent retail experience, especially in untapped markets.