Bombay Shaving Company Raises INR 15 Cr From Sixth Sense Ventures
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Bombay Shaving Company (BSC) announced on Thursday to have raised INR 15 crore in a funding round from existing investor Sixth Sense Ventures. This will include a primary infusion as well as a secondary purchase from senior employees.
"Thrilled to see Sixth Sense Ventures doubling down on their investment in us. Our primary goal now is to build a leadership team to take us from a startup to an established FMCG organization. Our growth plans include building our brands, rapid scale in online and offline expansion, and focus on winning categories. Always good to see deserving tenured colleagues liquidate some stock along the way, too," said Shantanu Deshpande, founder, and chief executive officer, Bombay Shaving Company.
The four-year-old startup has become a brand of reckoning in the shaving category with its offerings of razors, foams, creams, and after-shave solutions. In the last six months, they have also grabbed a seven per cent share in women's shaving which has seen accelerated growth during COVID. BSC is aiming to get to INR 500 crore topline in the next three-four years.
The firm now owns around 24 per cent of BSC.
"BSC has grown threefold since pre-COVID, found product-market fit in core categories, is expanding aggressively and the team is incredible. With Reckitt joining the journey, we are very bullish and see the company continue to grab share across channels and categories. There are always founders whom we would love to back at all points, Shantanu is one such," added Nikhil Vora, founder, Sixth Sense Ventures.
The company has recently raised INR 45 crore from global consumer giant Reckitt.