India-based direct-to-consumer (D2C) luxury skincare and personal care platform Ras Luxury Oils raised USD 2 million in its pre-Series A funding. The round took place on May 23, 2022. Sixth Sense Ventures led the funding for Ras Luxury Oils.
Purpose of Funding for Ras Luxury Oils
The beauty and personal care brand would use the latest funding to develop and launch new product categories. It will also expand deeper into marketplaces and accelerate its product innovation. Meanwhile, the startup will look to establish an international presence.
The startup witnessed 20 times growth in the last two years. It aims to disrupt the global clean beauty and skincare market, which is worth USD 54 billion and growing at a compound annual growth rate (CAGR) of 13%.
What the founder has to say
Shubhika Jain, Founder & CEO, said, “This funding will help us continue on our journey of creating a luxury skincare brand that is distinguished by its premium quality ingredients and unique science-backed formulations. We plan to transform the global beauty and skincare market as a Made-in-India brand that speaks to a discerning global consumer.”
“We plan to transform the global beauty and skincare market as a Made-in-India brand that speaks to a discerning global consumer. Sixth Sense’s platform and founder Nikhil Vora’s business insights and strategic direction are valuable to us,” she further added.
What the investor has to say
“RAS is perfectly aligned with our investment philosophy of betting on challenger brands. There is a white space within luxury skincare as a category in India, and it is growing 2-3x faster than the personal care category because it is brand-starved. Furthermore, skincare brands from India are Underrepresented globally. We believe that with such a dynamic, young and strong leadership team, Ras has the ability to create a strong niche for itself. Their differentiated positioning can make RAS stand out in the currently crowded beauty industry,” said Nikhil Vora, founder and CEO of Sixth Sense Ventures.
Currently, Sixth Sense Ventures is investing from its third fund, SSIO III. The fund has completed 24 investments in startups such as Nobel Hygiene, Frajo, Open Secret, Stylum, Good Dot, Neiman, Rage Coffee, Design Café, etc.
Beauty Startups and Fundings
The beauty and personal care segment in the startup ecosystem witnessed a significant interest from investors despite the warnings of funding slowdown. Recently, Wow Skin Care raised a primary capital of an undisclosed amount from Singapore’s sovereign wealth fund, GIC.
On May 16, 2022, Mamaearth Parent Honasa Consumer Pvt Ltd. acquired Dr Sheth’s.
About Ras Luxury Oils
Shubhika Jain, Suramya Jain and Sangeeta Jain co-founded Ras Luxury Oils in 2017. Its product offering includes a wide range of essential oils and elixirs. The beauty and wellness brand blends ancient Ayurveda with modern science. Ras Luxury Oils delivers effective and therapeutic skincare and wellness products to customers.
Currently, its website contributes 85 -90% of its revenue. The startup also sells via online marketplaces such as Nykaa and Amazon. Moreover, it has partnered with various high-end spas and salons.
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 luxury skincare and personal care platform Ras Luxury Oils raised USD 2 million in its pre-Series A funding. The round took place on May 23, 2022. Sixth Sense Ventures led the funding for Ras Luxury Oils.){kind=link}