Bombay Shaving Company raises $21.5m and 14 other India deal updates

Hair removal brand Bombay Shaving Company (BSC) has raised about $21.5 million (Rs 160 crore) in a round led by hedge fund Malabar Investments.

The round also saw the participation of Patni Advisors, Singularity AMC, and other HNIs. The financing also involved ESOP sales for some of the employees. Some early investors scored exits worth Rs 45 crore in the transaction.

BSC, which intends to acquire brands in adjacent categories and content platforms, is in advanced talks to raise a further Rs 300 crore for the same.

The latest round comes 11 months after the company raised Rs 45 crore from Reckitt, a global FMCG giant in the health, hygiene, and nutrition space.

BSC plans to scale operations to Rs 500 crore top line with an omnichannel presence in the next two years. It will deploy the funds towards expanding its portfolio of personal care and hair removal products, per a company statement.

The investment will further bolster the brand’s ambition to deliver 10X growth in the next 5 years, the company said.

INDIA DEAL MONITOR

Here are prominent venture capital transactions in India announced from January 2-5, 2022.

Expand Table

StartupHeadquarterInvestment Size (USD)Investment StageLead Investor(s)Other Investor(s)IndustryVerticals
Bombay Shaving CompanyDelhi21.5 millionSeries CMalabar InvestmentsPatni Advisors, Singularity AMCConsumer ProductsE-commerce
iD Fresh FoodBengaluru68 millionSeries DNewQuest Capital Partner, Premji Invest-FoodE-commerce
ZupeeGurugram72 millionSeries BWestCap Group, Tomales Bay Capital, Nepean Capital, AJ Capital, Matrix Partners India,Orios Venture Partners-InterneteSports
ExotelBengaluru40 millionSeries DSteadview Capital-TelecomsCloud Computing
Groyyo Gurugram4.6 millionSeedAlpha Wave Incubation (AWI)Deepak Jain, Arpan Seth, Maninder Gulati, Anjali Bansal, Sparrow Capital, Stride VenturesIndustrial MachineryAI and Machine Learning
Bolo LiveGurugram2.4 millionPre-Series AOrios Venture Partners. SOSV, Tremis Capital, LPA VenturesEagle 10 VenturesInternetSocial Media
SaveINGurugram--Y Combinator -Financial ServicesFintech
FreecultrDelhi5 millionSeries ASixth Sense India Opportunities FundAman Gupta, Sameer Mehta, Chaitanya Ramalingegowda, Manish VijRetailE-commerce
Living FoodBengaluru7.5 millionSeries AAmasiaSOSV, Blume Founders Fund, Sid Yog, Sandeep SinghalFoodE-commerce
Pine LabsNoida20 million-State Bank of India-Financial ServicesFintech
Crater ClubBengaluru1.2 millionSeedLumikai, LC Nueva Alternate Investment Fund-MediaDigital Media
GeniemodeDelhi7 millionSeries AInfo Edge Ventures-SoftwareAI and Machine Learning
Wall.appBengaluru1 million-Woodstockfund, Arcanum capital, Lancer capital, Lumos labs, Tushar Agarwal, Aniket Jindal, Prabhakar Reddy -Information ServicesBlockchain
CASHeMumbai18.8 millionCorporate TSLC Pte Ltd-Financial ServicesFintech Lending
Innoviti Payment SolutionsBengaluru10.7 millionSeries DTrifecta Debt Fund, Patni Advisors, Bessemer Venture PartnersSanjoy Bhattacharya, Bharat JaisinghaniFinancial ServicesFintech

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.