Indian grooming startup Bombay Shaving Company gets ₹45 crore investment from Dettol maker Reckitt Benckiser
Bombay Shaving Co.
Reckitt Benckiser(RB), the British consumer goods giant, has invested ₹45 crore in Bombay Shaving Company’s parent firm Visage Lines Personal Care.
- Earlier, the startup had raised funds from Colgate Palmolive among others.
- Having started off as a men’s grooming company, the startup had last year also ventured into women’s grooming products.
AdvertisementReckitt Benckiser (RB), the British consumer goods giant, has invested ₹45 crore in Bombay Shaving Company’s parent firm Visage Lines Personal Care. Through the investment, RB’s Vice President Arjun Purkayastha, will now sit on the board of Visage Lines.
Earlier, the startup had raised funds from Colgate Palmolive, Sixth Sense Ventures and others.
The current investment round also saw participation from multiple High Net-worth individuals including Rajesh Sud from Bharti Enterprises, Anjali Bansal founder of Avaana Capital, and Kuldeep Jain, Managing Director of CleanMax Energy.
Having started off as a men’s grooming company, the startup had last year also ventured into women’s grooming products.
The five-year old startup is competing with the likes of Marico-acquired Beardo in the grooming industry. Bombay Shaving Company currently has over 2 million users, and with the fund infusion from RB hopes to achieve global scale.
“RB is a diamond addition to our journey. They have an excellent record in building health and wellness brands over their 200-years heritage. Working in partnership, our young team is ambitious for what we can achieve together and scale our operations with an omnichannel presence.” said Shantanu Deshpande, founder CEO of Visage Lines.
The startup had also appointed Bollywood star Kartik Aaryan as its brand ambassador in 2020.
OnePlus co-founder Carl Pei launches a new consumer tech company and it's literally called Nothing
Popular on BI
- Rupee falls 38 paise to 81.78 against US dollar
- The e-auction closing date of 1,200 gifts given to PM Modi, extended
- Swiss banking giant Credit Suisse fighting for its survival says report
- IAF to induct first batch of indigenously-developed light combat vehicles on Monday
- Infosys to lead IT sector’s Q2 show with 4% revenue growth, says Jefferies