Bombay Shaving Company plans to enter Middle East Region

Bombay Shaving Company has raised Rs 50 crore from Gulf Islamic Investments (GII). It helped the company to gain access to the Middle East region. Mumbai Shaving Cream has also raised Rs 160 crore recently. The latest funding takes the overall quantum of money raised in the round to Rs 210 crore.

The co-chief executives of GII Pankaj Gupta and Mohammad Alhassan have said that the company has demonstrated strength in building innovative products. The company is targeting to increase its operations to have a top line of Rs 500 crore top line in the next two years. It will use the funds to expand its portfolio of personal care products. 

The company started out as a premium direct to consumer brand in 2016. It has expanded the business into diverse categories. Shantanu Deshpande, founder CEO of Bombay Shaving Cream has said that as the company scaled from Rs 150 crore to Rs 500 crore, it needed an investor group that could guide the company on building an IPO-able company.