Wipro Consumer care – Ventures, the venture capital fund of the Wipro Consumer Care and Lighting, has now revealed that it will invest in the men and women grooming products startup, LetsShave.
In a statement, the startup revealed that the Wipro Consumer care – Ventures has acquired a minority stake and has also signed an agreement to invest in the startup.
Sumit Keshan, Managing Partner, Wipro Consumer – Venture said,
“LetsShave offers high-quality products and is a challenger brand in a space dominated by a single large player. They are a promising team and have the ability to understand consumer requirements, identify opportunities, and meet them in quick cycle time. This investment is in keeping with the company’s strategy of leveraging emerging online opportunities addressed towards the millennial population.”
Sumit revealed that with the help of this new investment, Wipro ventures would increase its portfolio in short to medium term as a part of its strategy of investing in innovative startups in the space of the consumer brands and consumer technology domains in South East Asia and India.
Sidharth said, “We had started our journey four years ago and have made a strong presence with huge acceptance from our consumers for our products. We are excited to partner with Wipro who has a deep understanding of Indian consumers. With their support, we plan to chart a strong growth trajectory and are committed to making LetsShave a sustainable and responsible one-stop solution provider for shaving systems, personal care and grooming for men and women.”