Bombay Shaving Company cuts a Rs 45cr funding deal

BENGALURU: Bombay Shaving Company (BSC) has raised Rs 45 crore in a new financing round, led by Sixth Sense Ventures, with participation from existing investor Colgate Palmolive Asia Pacific. Following the fundraising, a clutch of angels and early employees have exited the brand, which has picked up Rs 80 crore till date.

Close to 30 angels, including 16 partners from McKinsey including Noshir Kaka and Gautam Kumra, as well as S Ramadorai, former managing director of TCS; Kiran Deshpande, former CEO of Tech Mahindra, and Maninder Gulati, who heads strategy for Oyo, had backed the company in 2016, according to regulatory filings.

Early employees and angels have cashed out in a Rs 20 crore secondary round, racking up as much as five times their investment return in about three to three-and-a-half years.

“The primary infusion of the current financing is more than ten times the first round,” said Shantanu Deshpande, founder and CEO of BSC, declining to share specifics.

The brand aims to achieve annualised turnover of Rs 100 crore by next year, and use the cash raised to invest in brand building, product development, and expansion.


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