Shantanu Deshpande, the founder and CEO of the men’s grooming company Bombay Shaving Company, made headlines lately on December 15 when he shared his thoughts on India’s fast food delivery industry.
“Cook takes two minutes, and delivery takes eight.” “I went crazy after hearing this from a ‘qcom for food’ founder,” Deshpande wrote in a LinkedIn post.
The startup founder expressed his opinions about the 10-minute delivery, saying, “Frozen purees, curries, and old vegetables were heated and garnished with dhaniya to look fresh and slammed in some two-wheeler who rides like Mad Max to your door in 10 minutes because you couldn’t wait another 15 minutes or you were too lazy to chadhao a cooker of daal chawal.”
According to data gathered by Tracxn, the 37-year-old entrepreneur, who has embarked on a mission to transform the men’s grooming market, owns almost 21.1% of Bombay Shaving Company as of the most recent investment round, which took place on June 2, 2023.
The company’s overall holdings data indicates that the founder and CEO’s interests were valued at about ₹167.4 crore (unrealized) as of the most recent fundraising round, despite the fact that Shantanu Deshpande’s precise net worth is not publicly disclosed.
After the fundraising, Deshpande has made a total of ₹26.9 crore, according to the Tracxn data. After the investment round in 2023, the founders’ shareholding decreased by 120 basis points to 21.1% from their previous stake of 22.3%.
According to the research firm, the company raised ₹42 crore from its June 2023 Series C3 round in exchange for a 5.3% reduction in the overall ownership in Bombay Shaving Company.
Additionally, according to the statistics, the startup’s post-money valuation was ₹792 crore, whereas its pre-money valuation was ₹750 crore.
Angel investors possess 17.7 percent of the company, while the founder owns 21.1%, making them the main owners. One of the major investors in the consumer-focused brand is Colgate Palmolive, which holds a 12.3% share.
The Bombay Shaving Company brand is owned by Visage Lines Personal Care Pvt Ltd, which also sells shaving foam, razors, after-shave lotion, fragrances, and skincare and hair care items.
The company had a net loss of ₹80.3 crore in the fiscal year that ended in 2022–2023, which is 85% more than the ₹43.4 crore it suffered in the previous fiscal year, according to Tracxn statistics.
In contrast, the company’s operating revenue increased by 71.5% to ₹182.4 crore in the fiscal year 2022–2023 from ₹106.3 crore the year before.
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