Back News / Bombay Shaving Company raises Rs 15 crore from Sixth Sense Ventures
Bombay Shaving Company raises Rs 15 crore from Sixth Sense Ventures
March 25, 2021Bombay Shaving Company raises Rs 15 crore from Sixth Sense Ventures
Bombay Shaving Company (BSC) has raised Rs 15 crore from existing investor Sixth Sense Ventures, the company said in a press statement on Thursday. This will include a primary infusion as well as a secondary purchase of shares from senior employees. With this, Sixth Sense now owns 24% of the company.
The current round is a follow-up to last month’s Rs 45-crore infusion led by global consumer giant Reckitt.
Launched in June 2016, BSC is a premium personal care brand for men and women. The company sells its products online and in brick-and-mortar stores.
“Thrilled to see Sixth Sense Ventures doubling down on their investment in us. Our primary goal now is to build a leadership team to take us from a startup to an established FMCG organisation,” said Shantanu Deshpande, founder and CEO of BSC.
Deshpande said the company “rode the pandemic wave”. Consumers typically buy personal care products such as shaving creams offline, he told ET, but are increasingly doing so online because of the lockdown. “We were able to compete far more capably with our competitors on a five-inch screen [than] in two million stores,” he said. “We are touching a Rs 100-crore top line and are looking to double this by the end of the financial year,” he added.
“BSC has grown 3X since pre-Covid times. It is expanding aggressively and the team is incredible. We are very bullish and see the company continuing to grab market share across channels and categories.” said Nikhil Vora, founder of Sixth Sense Ventures.