According to the company, RENEE’s provisional revenue has grown around 3X and crossed Rs 100 crore during FY23 with an EBITDA of 25-30%. With the growing scale, RENEE also aims to become profitable by FY24. RENEE has raised a total funding of $36 million to date across three rounds. In late 2022, it raised $25 million in a series B round led by Evolvence India. The company competes with other beauty brands such as Lakme, Sugar, and MyGlamm, among others. As RENEE continues to expand its product offerings and reach new markets, it will face stiff competition from established players in the beauty industry. However, the company’s strong growth trajectory and commitment to becoming profitable indicate that it is well-positioned to succeed in this highly competitive space.
RENEE has raised a total funding of $36 million to date across three rounds. In late 2022, it raised $25 million in a series B round led by Evolvence India. The Ahmedabad-based D2C startup, RENEE competes with Lakme, Sugar, and MyGlamm, among others
As per the company’s statement, RENEE has experienced significant growth with provisional revenue growing around 3X and crossing Rs 100 crore during FY23 with an EBITDA of 25-30%. With continued expansion and growth, RENEE aims to become profitable by FY24. The company has raised a total funding of $36 million across three funding rounds, with the latest being a $25 million Series B round led by Evolvence India in late 2022. As a direct-to-consumer (D2C) beauty brand based in Ahmedabad, RENEE competes with other well-known brands such as Lakme, Sugar, and MyGlamm. Despite stiff competition, RENEE’s impressive growth trajectory and commitment to profitability suggest that it is well-positioned to continue its success in the beauty industry.