VanityCask Tech Pvt. Ltd, which runs luxury beauty products discovery platform VanityCask, has raised an undisclosed amount in seed funding from Singapore-based angel and venture capital firm RB Investments, the startup’s founder Tarun Joshi told VCCircle.
The company will use the funds to cover its fixed costs and logistics and advertising spend, he added.
Founded by Joshi in November 2016, the subscription-based platform claims to be a “merger of media, brands and trials.” The Mumbai-based startup delivers a beauty box containing samples of luxury beauty brands, such as Clinique, Votre, Kama and Thalgo, to users every month. Each sample typically lasts 5-7 applications.
Joshi claimed VanityCask will break even at the unit level in the next two months.
Speaking about challenges, he said solving supply-chain problems was hard as there are a limited number of brands in India and logistics in the country are still problematic.
The startup competes with the likes of FabBag, MSM Box, My Envy Box, and GlamEgo.
RB Investments is a boutique venture fund that participates in early-stage and seed rounds as well as Series A, B and C investments. It has also invested in food-ordering startups Faasos and Swiggy and online jewellery seller BlueStone, among other ventures, according to VCCEdge, the data research arm of VCCircle.
Its recent investments include online travel agent marketplace TravelTriangle, where it led a $10-million Series B round. The funding round also saw participation from existing investors SAIF Partners and Silicon Valley venture fund Bessemer Venture Partners.
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