Bombay Shaving Company (BSC) has raised Rs 160 crore in a funding round led by Malabar Investments, a hedge fund based in India. The round also saw participation from Patni Advisors, Singularity AMC, and well-known high net-worth individuals (HNIs), the company said.
“India’s leading hair removal brand Bombay Shaving Company (BSC) has raised Rs 160 crore in a round led by Malabar Investments, a hedge fund based in India,” the statement said. ESOP sales for some of its employees and exits for early investors to the tune of Rs 45 crore was another feature of this round.
The round comes 11 months after the company raised Rs 45 crore from Reckitt, a global FMCG giant in the health, hygiene, and nutrition space. “The company is uniquely capitalised with two global strategic giants Colgate Palmolive and Reckitt on their cap table,” the statement said. Bombay Shaving Company (BSC) aims to scale operations to Rs 500 crore top line with an omnichannel presence in the next two years and will deploy the funds towards expanding its portfolio of personal care and hair removal products.
Besides launching new products, BSC would aggressively expand its offline distribution, build an international presence, invest in brand building and hire talent across positions, the company said. It also intends to acquire brands in adjacent categories and content platforms and is in advanced talks to raise a further Rs 300 crore towards this, the statement added.
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