Bombay Shaving Company Expands Its Series C Round To INR 210 Crore

The company has raised INR 50 crore from Gulf Islamic Investments as a follow on to its INR 160 crore Series C round led by Malabar

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Bombay Shaving Company, India's leading personal care and hair removal brand, has raised INR 50 crore from Gulf Islamic Investments (GII), as a follow on to its INR 160 crore Series C round led by Malabar. This takes the round size to INR 210 crore.

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"We love the company's focus on hair removal and personal care as a category. It is a deep market, there is a first-mover advantage and the company has demonstrated strengths in building innovative products. We are thrilled to partner with the team," said Pankaj Gupta and Mohammed Alhassan, co-founders and Co-CEOs, Gulf Islamic Investments (GII) in a joint statement.

Launched in 2016, BSC started as a premium, D2C, experiential shaving regimen brand and has since expanded into diverse hair removal categories. In 2020, BSC forayed into women's hair removal with their brand "Bombay Shaving Company–Women' which now accounts for nearly 25 per cent of the total business.

"We are delighted to have GII join our cap table. We are singularly focused on building a brand that owns hair removal and personal care. As we scale from INR 150 crore to 500 crore to INR 1000 crore, we need an investor group that could guide us on building an IPO-abled company," said Shantanu Deshpande, founder, CEO of BSC.

This series C is the sixth round of financing for the company that counts Reckitt, Colgate Palmolive, Sixth Sense Venture Partners, among other industry powerlifters.