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Bombay Shaving Company raises $2.06 million

New Delhi: Grooming brand Bombay Shaving Company has raised Rs 15 crore (around $2.06 million) from existing investor Sixth Sense Ventures as part of a follow-on round, it said on Thursday.

Delhi-based Bombay Shaving Company said the investment by Sixth Sense will comprise a primary infusion as well as a secondary purchase from senior employees.

Nikhil Vora-founded Sixth Sense Ventures now holds about a 24% stake in Bombay Shaving Company.

The development comes after the startup in January raised Rs 45 crore ($6.2 million) in a round led by consumer goods giant Reckitt Benckiser. The round also saw participation from individuals including Avaana Capital founder Anjali Bansal and CleanMax Energy managing director Kuldeep Jain.

Operated by Visage Lines Personal Care Pvt Ltd, Bombay Shaving Company was set up in 2016 by Shantanu Deshpande. The company now has more than 100 products for men and women across shaving, bath and body, skin, and beard care categories.

“Our primary goal now is to build a leadership team to take us from a startup to an established FMCG [fast-moving consumer goods] organization,” Deshpande said.

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