Team Startupcity

• RENEE Cosmetics raises $30 million led by Playbook and Midas, pushing its valuation to $200 million.
• Funds to boost product innovation, expand in Tier I & II cities, and scale marketing and D2C efforts.
• Brand eyes international growth with early presence in the US, UAE, and Australia.

Fast-growing Indian beauty brand RENEE Cosmetics has raised $30 million in a Series C funding round led by Playbook, with participation from Midas. The round includes both primary and secondary investments, valuing the company at $200 million a 1.4x jump from its last valuation in the extended Series B round in June 2024.

Founded in 2020 by television personality Aashka Goradia Goble and Beardo co-founders Ashutosh Valani and Priyank Shah, RENEE has rapidly emerged as a disruptive force in India's beauty landscape. Known for its innovative and inclusive makeup and skincare line, the brand has built a diverse product portfolio ranging from lipsticks and highlighters to perfumes and skin serums.

The latest capital infusion is set to propel RENEE’s next phase of growth. The company plans to expand its product range, deepen its omnichannel footprint in Tier I and Tier II cities, and enhance its investment in technology, R&D, and brand-building efforts.

“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”, said Ashutosh Valani, Co-founder of RENEE.

RENEE is currently present in over 15,000 retail stores across India and continues to gain traction on major e-commerce platforms like Amazon, Flipkart, Nykaa, and Myntra.

“Our vision has always been to merge ethics with innovation”, said Aashka Goradia Goble. “With this funding, we aim to accelerate product innovation and launch globally relevant formats”.

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Co-founder Priyank Shah added that offline expansion remains a key focus, particularly in untapped Tier II cities, with plans to build a consistent in-store customer experience.

The brand has already begun testing international markets through online availability in the US, UAE, and Australia, and this funding is expected to accelerate RENEE’s ambitions of becoming a global beauty powerhouse.