Beauty tools brand Beauté Secrets raises Rs 1.6 crore from Velocity
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Beauté Secrets, a beauty tools startup based in Gurugram, has raised Rs 1.6 crore in funding from Velocity to expand its product offerings and enhance its presence on quick commerce platforms.
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Founded in 2010 by Harnika Aneja, Beauté Secrets aims to provide affordable, durable, and elegant beauty tools designed for customers who prefer minimal makeup, with a product range that includes manicure kits, tweezers, and hair brushes.
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The startup claims to have served over 4 million customers and achieved a threefold growth rate, capitalizing on the growing demand for its products as the Indian beauty market is projected to reach $31.56 billion by 2024.
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Beauté Secrets plans to enter premium retail outlets in major cities to further its expansion and continues to partner with manufacturers to maintain product quality while offering reasonable pricing.
- Velocity’s co-founder, Atul Khichariya, emphasized that their financing assists brands like Beauté Secrets in meeting increased demand, especially during peak seasons such as festivals.
Gurugram-based beauty tools startup Beauté Secrets has secured Rs 1.6 crore in funding from Velocity, a cash flow financing platform.
The startup will use the raised capital to support its ongoing efforts to expand its product line and strengthen its presence on quick commerce platforms.
What does Beauté Secrets do?
Beauté Secrets was founded in 2010 by Harnika Aneja with a vision to provide beauty tools that enhance natural beauty without relying on heavy makeup.
The brand emphasizes creating durable, travel-friendly, and affordable products designed for customers who want elegance and functionality.
It features a diverse product range, including manicure/pedicure kits, tweezers, cuticle trimmers, foot scrubbers, hair brushes, and scissors, catering to various customer needs and budgets.
Since its inception, Beauté Secrets has collaborated with experienced manufacturers to ensure product quality and aims to maintain its competitive pricing. As part of its expansion strategy, the startup is now planning to enter premium retail outlets in major cities.
Growing market and customer base
According to Statista, the Indian beauty and personal care market is projected to generate $31.56 billion in revenue by 2024, with a compound annual growth rate (CAGR) of 2.76% from 2024 to 2029.
Beauté Secrets claims to have served over 4 million customers across India. It also claims to have experienced a 3x growth rate and continues to see strong demand for its products.
“Our focus on creating travel-friendly, durable, and elegant beauty tools has resonated with consumers looking for quality products without breaking the bank,” said Harika Aneja.
“By maintaining reasonable pricing while ensuring durability and precision in our tools, we’ve successfully met the varied needs of our clientele and established Beauté Secrets as a trusted brand in the beauty tools market,” Aneja added.
Investor comments
Atul Khichariya, Co-founder and COO of Velocity said, “Our financing helps brands like Beauté Secrets meet increased demand, particularly during high-traffic seasons like festivals. This enables them to maximize their growth potential.”
Velocity has previously funded other notable D2C brands, including Koskii, Power Gummies, and Bewakoof.
Here’s a comprehensive list based on the provided information:
Startup
- Name: Beauté Secrets
- Founded: 2010
- Founder: Harnika Aneja
- Location: Gurugram, India
Funding
- Amount Raised: Rs 1.6 crore
- Funding Series: Not specified (but it is from Velocity, which typically provides cash flow financing)
Investors
- Investor Name: Velocity (cash flow financing platform)
- Investor Comments: Atul Khichariya, Co-founder and COO of Velocity
Product and Business Focus
- Industry: Beauty tools
- Focus: Durable, travel-friendly, and affordable beauty tools designed to enhance natural beauty; product range includes manicure/pedicure kits, tweezers, cuticle trimmers, foot scrubbers, hair brushes, and scissors.
Market Insights
- Market Growth: Indian beauty and personal care market expected to generate $31.56 billion by 2024.
- Customer Base: Over 4 million customers across India and a 3x growth rate.
Notable Past Funding by Velocity
- Other D2C Brands Funded: Koskii, Power Gummies, Bewakoof.
This information captures the essential details regarding the startup, its funding, and its vision/operations.