It said it would use the funds to develop and launch new product categories, expand deeper into markets, and establish an international presence.
Founded in 2017 by three women – Shubhika Jain, Suramya Jain and Sangeeta Jain – Ras Luxury Oils claims to have seen 20x growth in the past two years.
“There is white space within the luxury skin care product category in India, and it is growing 2-3 times faster than the personal care product category because it is brand hungry. Plus, skin care 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.
Sixth Sense Ventures is currently investing from its third fund, SSIO III, which has completed 24 investments, including bets on Parag Milk, Nobel Hygiene, Fraazo, Open Secret, Stylam, GoodDot, Neeman’s, Rage Coffee, Design Cafe and Bira 91.
It said it caters to the global beauty and skincare market, which is worth $ 54 billion and grows at a compound annual growth rate (CAGR) of 13%.
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Currently, the Ras website contributes 85-90% to its revenue. It also sells through online marketplaces such as and Amazonand has partnered with various high-end spas and salons.
“We plan to transform the global beauty and skincare market into an Indian brand that caters to a discerning global consumer,” said Shubhika Jain, co-founder and CEO of Ras Luxury Oils.