- RAS is the first investment by Sixth Sense in a company backed by women founders
- The funding will help the brand solidify its global expansion plans and advance innovation in the luxury skincare and beauty space
Mumbai, 23rd May 2022: RAS Luxury Oils, India’s 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, India’s top 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% women.
Founded in 2017 by three ambitious 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% of its revenue. The company has an immense focus on customer engagement and experience. It is also present in online marketplaces like Nykaa and Amazon, and has partnered with various high-end spas and salons. 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. We believe that with such a dynamic, young and strong leadership team, RAS has the ability to create a strong niche for itself. Their differentiated positioning can make RAS stand out in the currently crowded beauty industry. Shubhika has sharp business acumen, and is full of grit and energy to drive the company to new heights. We are excited to partner with RAS to accelerate its growth.”
Commenting on the funding, Shubhika Jain, Founder & CEO, said, “The Sixth Sense Ventures investment in RAS is a testament to our vision, and we are elated by their vote of confidence. 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. Nikhil Vora’s business insights, strategic direction and the Sixth Sense platform are valuable to us. They have invested in differentiated brands with global aspirations and deeply understand our vision. We are privileged to be a part of an exciting cohort of companies.”
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 & execution. Suramya Jain, CMO, is an agri-business graduate from University of Reading, UK, and heads marketing & branding, while Sangeeta Jain, CRO, is the formulator-in-chief.
RAS’s award-winning products including its 24k Gold Radiance Face Elixir, Gel Serum & Tinted Lip Balms have a cult following with influencers, A-list celebrities, & consumers. 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 & more that are effective and sensorial while being natural, organic, vegan, cruelty-free and toxin-free.
About Sixth Sense Ventures:
Sixth Sense Ventures is India’s first domestic consumer centric venture funds and is founded by Nikhil Vora (Ex-Managing Director of IDFC Securities), who has been regarded as one of the strongest analytical minds in the country. Sixth Sense Ventures is currently investing out of its third fund, SSIO III which has completed 24 investments including Parag Milk, Nobel Hygiene, Fraazo, Open Secret, Stylam, GoodDot, Neeman’s, Rage Coffee, Design Cafe, Bira 91, Storia, Giva, Freecultr, Dogsee Chew, Wonderchef, Vedic Cosmeceuticals, Unbox Robotics, Veeda Clinical Research, Direct (ShopKirana), Altigreen, Prozo, Just Dogs, Phool and RAS.
About RAS Luxury Oils:
RAS (pronounced ‘ruh-us’ which means essence & happiness in Sanskrit) is transforming the premium beauty and skincare industry in India with its high-quality natural ingredients and potent scientific formulations that are manufactured at the company’s proprietary vertically-integrated research facility & farms in Raipur, Chhattisgarh. Through its products, RAS aims to champion and leverage India’s vast bounty of natural ingredients and rich history of nature-based beauty products. RAS Luxury Oils started out with a simple philosophy – to create a skincare brand that was transparent, pure and responsible.