Fast-growing D2C premium quality cosmetic startup Recode Studios has raised a pre-series A funding round led by Sanjay Katkar and advised by Bestvantage investments. The brand, Recode Studios, was instituted in 2018 by Dheeraj Bansal & Rahul Sachdeva, Co-Founders, with the aim to revolutionize the makeup industry, by combining premium international quality with creativity, thus bringing about a Universal Studio Arte in the Indian Industry.
The brand plans to deploy funds to hire senior vertical leadership to develop its team, scale up R&D and launch new products to expand its product range and scale business.
Speaking of the funding, Dheeraj Bansal said, "We highly appreciate the trust garnered on us by Sanjay Katkar. Our vision at Recode Studios is to create awareness among the masses pertaining to premium quality products with international standards at affordable prices. We look forward to using the fund to expand our retail presence with the launch of new stores and outlets across the nation. We even plan to step up our R&D to develop new innovative products under various categories for the Indian markets".
The investor, Sanjay Katkar, said, "The beauty and personal care market is growing at an exponential rate and is expected to reach $28 billion by 2025. Along the way, Recode Studios has consistently portrayed growth with an uphill graph, and the financial figures have been promising. And lately, they've gained a lot of traction post-Shark Tank episode.
We are privileged to partner with Dheeraj and the Recode Studios team as they aim to disrupt the beauty and personal care industry through innovative products seasoned by experts with their global collaboration and marketing strategies."
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( With inputs from ANI )
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