Personal care brand Bombay Shaving Company has closed a funding round of Rs 136 crore, led by existing consumer-focused investor Sixth Sense Ventures.
A mix of primary and secondary sales, the round also saw participation from the company's founder and chief executive Shantanu Deshpande, the Patni Family Office, Gulf Islamic Investments (GII), and several HNIs, along with Indian cricketer Rahul Dravid.
The company plans to use the fresh capital to strengthen its omnichannel operations, widen its retail footprint, and boost investments in product innovation and brand building.
“This fundraise serves as a step to consolidate as the brand gears up for a potential IPO,” the company said.
Founded in 2016, the company competes with incumbents like Gillette and Philips, offering a range of grooming products such as razors, trimmers, shaving essentials, and beard-care items. The company also caters to women through its brand Bombae, which provides hair removal solutions including trimmers, razors, and creams.
“Focussing on fast-evolving consumer needs, designing high quality products at competitive prices, and building the brand remains core to what we do and we intend to continue this,” said Deshpande.
According to the company, its annualised revenue run rate (ARR) stands at around Rs 550 crore, with quarter-on-quarter growth of roughly 20%. The firm currently has 14 exclusive brand outlets.
A mix of primary and secondary sales, the round also saw participation from the company's founder and chief executive Shantanu Deshpande, the Patni Family Office, Gulf Islamic Investments (GII), and several HNIs, along with Indian cricketer Rahul Dravid.
The company plans to use the fresh capital to strengthen its omnichannel operations, widen its retail footprint, and boost investments in product innovation and brand building.
“This fundraise serves as a step to consolidate as the brand gears up for a potential IPO,” the company said.
Founded in 2016, the company competes with incumbents like Gillette and Philips, offering a range of grooming products such as razors, trimmers, shaving essentials, and beard-care items. The company also caters to women through its brand Bombae, which provides hair removal solutions including trimmers, razors, and creams.
“Focussing on fast-evolving consumer needs, designing high quality products at competitive prices, and building the brand remains core to what we do and we intend to continue this,” said Deshpande.
According to the company, its annualised revenue run rate (ARR) stands at around Rs 550 crore, with quarter-on-quarter growth of roughly 20%. The firm currently has 14 exclusive brand outlets.
