D2C Skincare Brand Ras Luxury Oils Raises $2 Million Funding
D2C luxury skincare and personal care brand Ras Luxury Oils has raised $2 million in a fresh funding round from Sixth Sense Ventures.
The startup plans to use the funds to develop and launch new product categories, expand deeper into marketplaces, and establish an international presence.
RAS Luxury Oils | Farm To Face Skincare
Founded by Shubhika Jain, Suramya Jain and Sangeeta Jain in 2017, Ras Luxury Oils offers skincare and personal care products that are 100% natural and organic. The D2C brand sells via its own website and through online marketplaces such as Nykaa and Amazon.
Currently, Ras’ website contributes 85-90% of its revenue, and the brand claims to have seen 20x growth in the past two years. Ras Luxury Oils has also partnered with various high-end spas and salons.
As per Shubhika Jain, co-founder and CEO of Ras Luxury Oils, the D2C luxury skincare and personal care brand plans to transform the global beauty and skincare market as a made-in-India brand that speaks to a discerning global consumer.
Speaking about the development, Nikhil Vora, founder and CEO of Sixth Sense Ventures, said,
“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.”
Currently investing out of its third fund, SSIO III, Sixth Sense Ventures has completed 24 investments, including bets on Bira 91, Neeman’s, Rage Coffee, Parag Milk, Nobel Hygiene, Fraazo, GoodDot, and Design Cafe. The VC firm claims to be targeting the global clean beauty and skincare market, which is worth $54 billion and growing at a 13% compound annual growth rate (CAGR).
Rise D2C Market In India
Indian D2C startups raised $1.81 Bn across 174 deals n the year 2021, the highest among all eCommerce segments. More than 16 Indian D2C brands have an annual turnover of more than $60 million.
Recently, several D2C startups, including food brand MasterChow, tea brand Teamonk, and beauty and wellness brand The Ayurveda Company (TAC), raised funds.
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