Wipro Consumer Care Ventures invests in personal care start-up LetsShave

Wipro Consumer Care Ventures, the venture capital fund arm of Wipro Consumer Care & Lighting (WCCL), has invested an undisclosed amount in personal care start-up LetsShave.

The venture capital fund which has a pool size of Rs 200 crore will be deployed over the next three years with fresh investments in 4-5 start-ups each year.

“Our investment in LetsShave is in line with our strategy of leveraging emerging online opportunities targeting the millennials. We plan to increase our portfolio in innovative start-ups in consumer brands and consumer-tech domains both in India and South-East Asia,” said Sumit Keshan, Managing Partner, Wipro Consumer Care – Venture. The fund would be investing in two more start-ups in the next three months in the personal care and home care segments taking the total number of investments to four. WCCL already holds a minority stake in consumer products firm Happily Unmarried.

The fund has been looking at investing into companies that are smaller in size, with an annual sales of around Rs 10-12 crore.

“Wipro Consumer Care is an established industry player globally having deep insights into the consumer diaspora in India, and we would like to leverage their expertise to chart a strong growth trajectory,” said Sidharth S Oberoi, founder of LetsShave.