New Delhi-based personal care and hair removal brand Bombay Shaving Company has raised Rs 50 crore from Gulf Islamic Investments (GII), as a follow-on to its Rs 160 crore Series C funding round led by Malabar. This takes the round size to Rs 210 crore.
The round comes 11 months after the company raised Rs 45 crore from Reckitt, a global FMCG giant in the health, hygiene, and nutrition space. The company is capitalized with two global, strategic giants – Colgate Palmolive and Reckitt on their cap table.
In an official statement, Bombay Shaving Company (BSC) said it plans to scale operations to Rs 500 crore top line with an omnichannel presence in the next two years and will deploy the funds towards expanding its portfolio of personal care and hair removal products. GII will also be strategically positioned to provide access to GCC markets in addition to the already existing domestic market expertise the company has attained.