Ras Luxury Oils, a direct-to-consumer luxury skincare and personal care brand, has raised $2 million in a pre-Series A funding round from Sixth Sense Ventures.
WHO: Ras Luxury Oils was founded in 2017 by Shubhika Jain, Suramya Jain, and Sangeeta Jain. The products are created with natural ingredients and science-based formulas manufactured at the start-up's vertically integrated research facility and farms in Raipur, Chhattisgarh, India. The brand is primarily DTC but is also sold through online marketplaces like Nykaa and Amazon as well as being distributed in high-end salons and spas.
WHY: The funding will be used for product development and expanding distribution both domestically and internationally.
IN THEIR OWN WORDS: "There is a white space within luxury skincare as a category in India, and it is growing 2-3x faster than the personal care category because it is brand-starved. Furthermore, skincare brands from India are underrepresented globally. We believe that with such a dynamic, young and strong leadership team, Ras has the ability to create a strong niche for itself," said Nikhil Vora, founder and CEO of Sixth Sense Ventures.
"This funding will help us continue on our journey of creating a luxury skincare brand that is distinguished by its premium quality ingredients and unique science-backed formulations," said Shubhika Jain, founder & CEO of Ras. "We plan to transform the global beauty and skincare market as a Made-in-India brand that speaks to a discerning global consumer. Nikhil Vora's business insights, strategic direction and the Sixth Sense platform are valuable to us. They have invested in differentiated brands with global aspirations and deeply understand our vision. We are privileged to be a part of an exciting cohort of companies."
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