March 25, 2021: In a follow up to last month's 45 Cr infusion led by global consumer giant Reckitt, Bombay Shaving Company has raised another 15 Cr in funding from existing investor Sixth Sense Ventures. This will include a primary infusion as well as a secondary purchase from senior employees.
"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 start-up to an established FMCG organization. Our growth plans include building our brands, rapid scale in online and offline expansion and focus on winning categories. Always good to see deserving tenured colleagues liquidate some stock along the way, too." said Shantanu Deshpande, founder & CEO at Bombay Shaving Company.
"Bombay Shaving Company has grown 3X since pre-Covid, found product market fit in core categories, is expanding aggressively and the team is incredible. With Reckitt joining the journey, we are very bullish and see the company continue to grab share across channels and categories. There are always founders whom we would love to back at all points, Shantanu is one such!" said Nikhil Vora, founder of Sixth Sense Ventures. Sixth Sense now owns ~24% of BSC.
The 4 year old start-up has become a brand of reckoning in the shaving category with its offerings of razors, foams, creams and after-shave solutions. In the last 6 months, they have also grabbed 7% share in women's shaving which has seen accelerated growth during Covid. BSC is aiming to get to 500 Cr top line in the next 3-4 years.