Bombay Shaving company, a startup by alumnus from IIM Udaipur has recently raised funding from FMCG major Colgate-Palmolive. Fireside Ventures, company’s existing investor also participated in the funding round.
As per information received, Colgate-Palmolive has picked up a minority stake in the firm.
Founded in October 2015, firm engages in online designing and selling of high quality shaving products under their own brand name. The firm was founded by Rohit Jaiswal, alumnus of IIM Udaipur along with 3 other co-founders. In addition to Rohit, the other members include former McKinsey consultant Shantanu Deshpande, Raunak Munot, ex-Director, Social Strategy at GroupM, North America and Deepu Panicker, IIT Bombay alumnus and former Supply Chain Specialist at McKinsey.
Shantanu Deshpande said that after having received product-market fit acceptance and a good repeat rate, they are now looking at scaling up the brand.
Bombay Shaving Company has positioned itself as a luxury brand. It sells on e-commerce platforms like Flipkart and Amazon besides retailing from its own website.
Bombay Shaving Company has over 30 products in its portfolio across shaving, beard care, skin, bath and body categories. The firm runs with a subscription model and has reported over 80,000 subscribed clients.
Bombay Shaving Company competes with the likes of Man Co., an e-commerce place for men’s grooming.