RAS Luxury Oils, that claims to be the first farm-to-face luxury skincare and personal care brand, announced that it has secured $2 million pre-Series A, a funding from Sixth Sense Ventures, domestic consumer-centric venture fund.
RAS will utilise this fresh infusion of capital to further deepen inroads into the luxury skincare market in India and overseas, and accelerate its product innovation. RAS is the first investment by Sixth Sense in a company backed by all women founders, and its workforce comprises over 70 percent women, according to a company statement.
Founded in 2017 by three women entrepreneurs, Shubhika Jain, Suramya Jain and Sangeeta Jain, RAS has quickly grown into a niche luxury D2C brand. The company has witnessed 20x growth in the last two years, and is now aiming to further disrupt the global clean beauty and skincare market which is expected to reach $54 billion by 2027 .
Currently, RAS’ native website contributes 85-90 percent of its revenue, it said. The fresh capital will be used to develop and launch new product categories, expand deeper into marketplaces and establish an international presence.
Nikhil Vora, Founder & CEO of Sixth Sense Ventures, said, “RAS is perfectly aligned with our investment philosophy of betting on challenger brands. 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.”
Commenting on the funding, Shubhika Jain, Founder & CEO, said, “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. We plan to transform the global beauty and skincare market as a Made-in-India brand that speaks to a discerning global consumer.”
The RAS Luxury Oils brand is led by Shubhika Jain, Suramya Jain and Sangeeta Jain. Shubhika Jain, CEO, is an economics graduate from LSR, Delhi University, and leads growth, operations and execution. Suramya Jain, CMO, is an agri-business graduate from University of Reading, UK, and heads marketing and branding, while Sangeeta Jain, CRO, is the formulator-in-chief.
RAS currently engages in segments of face care, lip care and body care with a curated product portfolio of elixirs, serums, lip balms / tints and body butters and more that are effective and sensorial while being natural, organic, vegan, cruelty-free and toxin-free, it said.