Personal care start-up Bombay Shaving Company has raised 15 Cr in funding from existing investor Sixth Sense Ventures. This will include a primary infusion as well as a secondary purchase from senior employees. The latest round of funding follows last month’s Rs 45 Cr infusion led by global consumer giant Reckitt Benckiser.
Sharing the vision of the Delhi-based startup, the company founder & CEO Shantanu Deshpande said, “Our primary goal now is to build a leadership team to take us from a start-up to an established FMCG organisation. 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.”
With the latest round of funding, Sixth Sense Ventures now owns about 24 percent of the startup. Recounting its glorious journey, founder of Sixth Sense Ventures Nikhil Vora said,” “Bombay Shaving Company has grown 3X 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!”
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Apart from Sixth Sense Ventures and Reckitt Benckiser, Bombay Shaving Company had also raised funding from about 30 angels and Colgate Palmolive. Launched in 2016, the grooming start-up has become a brand of reckoning in the shaving category with its offerings of razors, foams, creams and after-shave solutions. It also claims that, within the last six months, the startup has grabbed 7% share in women’s shaving which has seen accelerated growth during Covid. BSC is aiming to get to Rs 500 Cr top line in the next 3-4 years.
