Beaute Secrets Secures $2.1 Million Funding from Velocity
In a significant milestone, Beaute Secrets, a popular beauty tools brand, has secured Rs 1.6 crore ($2.1 million) in funding from cash flow financing platform Velocity. The fresh capital will enable the brand to further expand its operations on quick-commerce platforms and introduce new products to its innovative lineup.
Launched in 2010 by entrepreneur Harnika Aneja, Beaute Secrets has disrupted the beauty industry by offering high-quality, affordable beauty tools that enhance natural beauty without the need for heavy makeup. With a diverse product range, including manicure and pedicure kits, tweezers, cuticle trimmers, and hair brushes, the brand has established a loyal customer base, serving over 4 million customers across India to date.
The brand has witnessed a remarkable 3x growth rate in recent years and is poised to capitalize on the Indian beauty and personal care market, projected to reach $31.56 billion in revenue by 2024 with a CAGR of 2.76% from 2024 to 2029.
With its commitment to quality and affordability, Beaute Secrets aims to continue expanding its presence through collaborations with experienced manufacturers and strategic partnerships with premium retail outlets in major cities.
Velocity, backed by renowned venture capitalist Peter Thiel’s Valar Ventures, has a proven track record of supporting Direct-to-Consumer (D2C) companies, including Koskii, Power Gummies, Hammer, and Bewakoof, and is well-positioned to help Beaute Secrets achieve its next stage of growth.
This latest round of funding will undoubtedly propel Beaute Secrets towards even greater heights, solidifying its position as a leading beauty tools brand in the Indian market.
