Beauty tool company Beaute Secrets has received Rs 1.6 crore from Velocity, a cash flow financing platform.
According to a press release from Beaute Secrets, the money raised will be used to grow the company’s quick commerce operations and add new products to its lineup.
Beaute Secrets was founded in 2010 by Harnika Aneja with the goal of providing high-quality, reasonably priced beauty tools that enhance natural beauty without the need for heavy makeup. The brand offers a wide range of products to suit different customer needs and budgets, such as manicure/pedicure kits, tweezers, cuticle trimmers, foot scrubbers, hair brushes, and scissors.
Beaute Secrets has added bath and hair removal products to its lineup. In order to maintain high quality, the company works with seasoned manufacturers, and it soon intends to open upscale retail locations in major cities.
Beaute Secrets claims to have served over 4 million customers across India, achieving a 3x growth rate, with the Indian beauty and personal care market predicted to generate $31.56 billion in revenue by 2024 and an annual growth rate of 2.76% (CAGR 2024-2029).
Velocity has previously backed multiple D2C com companies and is backed by Peter Thiel’s Valar Ventures.
