Beauty Tools brand 'Beaute Secrets' bags Rs.1.6 crore from Velocity
Beauty product company Beaute Secrets has received Rs 1.6 crore from Velocity, a cash flow financing platform.
According to a press statement from Beaute Secrets, the money raised will be used to grow the company's rapid commerce operations and add additional products to its lineup.
As the startup is established in the year 2010 by Harnika Aneja with the mission of offering high quality, sensibly priced beauty tools which enhance the natural beauty without the requirement of heavy makeup. The business provides a diverse sekection of beauty products to cater various clients’ demands and bughets including tweezers, cuticle trimmers, foot scrubbers, hairbrushes, and scissors, manicure/pedicure kits
Beaute Secrets has added bath and hair removal solutions to its repertoire. In order to maintain excellent quality, the company works with seasoned manufacturers, and it soon intends to open upscale retail locations in key cities.
Beaute Secrets claims to have served over 4 million clients in India, achieving a 3x growth rate, with the Indian beauty and personal care market predicted to produce $31.56 billion in revenue by 2024 and an annual growth rate of 2.76% (CAGR 2024-2029).
Velocity, which is financed by Valar Ventures, owned by Peter Thiel, has already backed a number of direct-to-consumer businesses, such as Koskii, Power Gummies, Hammer, and Bewakoof.
Speaking to this vital funding acquirement, Harika Aneja, Co-Founder of Beauté Secrets says, "Our focus on creating travel-friendly, durable, and elegant beauty tools has resonated with consumers looking for quality products without breaking the bank. By maintaining reasonable pricing while ensuring durability and precision in our tools, we've successfully met the varied needs of our clientele and established Beauté Secrets as a trusted brand in the beauty tools market”.
Similarly, Atul Khichariya, Co-Founder of Velocity comments, "We're excited to support Beauté Secrets, growth journey. Our financing enables brands like Beauté Secrets to capitalize on the festive season demand, which often accounts for a significant portion of their annual sales. By providing the necessary working capital, we're helping promising D2C brands reach their full potential.”
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According to a press statement from Beaute Secrets, the money raised will be used to grow the company's rapid commerce operations and add additional products to its lineup.
As the startup is established in the year 2010 by Harnika Aneja with the mission of offering high quality, sensibly priced beauty tools which enhance the natural beauty without the requirement of heavy makeup. The business provides a diverse sekection of beauty products to cater various clients’ demands and bughets including tweezers, cuticle trimmers, foot scrubbers, hairbrushes, and scissors, manicure/pedicure kits
Beaute Secrets has added bath and hair removal solutions to its repertoire. In order to maintain excellent quality, the company works with seasoned manufacturers, and it soon intends to open upscale retail locations in key cities.
Beaute Secrets claims to have served over 4 million clients in India, achieving a 3x growth rate, with the Indian beauty and personal care market predicted to produce $31.56 billion in revenue by 2024 and an annual growth rate of 2.76% (CAGR 2024-2029).
Velocity, which is financed by Valar Ventures, owned by Peter Thiel, has already backed a number of direct-to-consumer businesses, such as Koskii, Power Gummies, Hammer, and Bewakoof.
Speaking to this vital funding acquirement, Harika Aneja, Co-Founder of Beauté Secrets says, "Our focus on creating travel-friendly, durable, and elegant beauty tools has resonated with consumers looking for quality products without breaking the bank. By maintaining reasonable pricing while ensuring durability and precision in our tools, we've successfully met the varied needs of our clientele and established Beauté Secrets as a trusted brand in the beauty tools market”.
Similarly, Atul Khichariya, Co-Founder of Velocity comments, "We're excited to support Beauté Secrets, growth journey. Our financing enables brands like Beauté Secrets to capitalize on the festive season demand, which often accounts for a significant portion of their annual sales. By providing the necessary working capital, we're helping promising D2C brands reach their full potential.”
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