RAS Luxury Skincare, a farm-to-face beauty and personal care brand, has raised $5 million in a Series A funding round. The round was led by Unilever Ventures, with additional participation from Amazon SMBhav Venture Fund, existing investors like Sixth Sense Ventures and angel investors, including the family of Keki Mistry, the company said in a press note.
RAS plans to use the funds for various growth initiatives. These include expanding its retail footprint, and plans to grow its exclusive brand outlets (EBOs) from the current two to 50. RAS aims for offline channels to generate 25% of its revenue within the next four years.
The funding is also expected to support talent acquisition, research and development for new products, advertising, and enhancing its technology to improve customer experiences.
Founded in 2017 by Shubhika, Suramya, and Sangeeta Jain, RAS Luxury Skincare operates with a fully in-house, vertically integrated model for luxury skincare products, including serums, moisturisers , sunscreen, and bath products, among others.
“We believe that over the next 5-7 years, the premium beauty market in India will witness significant growth, and RAS, with its distinct value proposition, is well poised to capture this opportunity,” noted Pawan Chaturvedi, Partner & Head – Asia, Unilever Ventures.
RAS’s has recorded a 140% compound annual growth rate (CAGR) over the past year. A significant driver of this growth has been its direct-to-consumer (D2C) channel, which now accounts for over 50% of the company’s revenue. Additionally, RAS’s sales are bolstered by significant contributions from ecommerce and quick commerce platforms such as Nykaa, Amazon, Flipkart, Tira, Blinkit, Zepto, Myntra, and others.
