Bombay Shaving Cream Raises Rs 106 crore

Bombay Shaving Cream, the grooming brand has raised Rs 160 crore in Series C round led by Malabar Investments, along with the participation of Patni Advisors, Singularity AMC and several other high net-worth individuals (HNIs). 

The company is planning to use the raised funds to enter the international markets including the USA, Europe, the Middle East (Gulf Cooperation Council or GCC), and Australia.

It is also looking forward to raising another Rs 300 crore. The founder and CEO of the company, Shantanu Deshpande has said that it was looking to raise Rs 100 crore but are very glad to receive offers above Rs 500 crore. 

Bombay Shaving Company was launched by Rohit Jaiswal, Raunak Munot, Deepu Panicker and Shantanu Deshpande in 2016. It started out as direct to customers shaving brand and later expanded its business.

The company claims to have more than 3 million customers across different channels in the last six years. It is also planning to expand the product portfolio and would use a part of the raised funds to do so.