RENEE, an Indian makeup and cosmetics brand, has raised $1.5 million in its pre-Series A round drove by Equanimity Ventures and 9Unicorns with participation of Titan Capital.

Rajesh Sehgal from Equanimity and Dr. Apoorv Ranjan Sharma from 9Unicorns along with Kunal Bahl and Rohit Bansal from Titan Capital have driven this round.

Established by Ashutosh Valani, Priyank Shah and Aashka Goradia, RENEE claims to create a range of without cruelty and vegan items in the beauty and cosmetics segment.

Since its inception, the beauty brand has seen nearly 30-folds development in income and is presently clocking around 40 crore annual recurring income (ARR) and has plans to reach 100 crore ARR before the finish of this fiscal year.

With onboarding new partners, the Ahmedabad-based startup will further hope to strengthen and expand its presence in offline space as well and aims to have presence in more than 1,000 beauty outlets over the upcoming few quarters.