Personal care business Bombay Shaving Company has closed a Rs 136 crore ($15 million) funding round as it eyes an IPO.WHO: Visage Lines Personal Care is the Indian company that owns popular men's grooming brand Bombay Shaving Company, launched in 2016. Founded by Shantanu Deshpande, the company initially focused on men’s shaving and grooming products as a D2C brand. The brand has a portfolio of over 100 products across shaving, bath and body, skin, and beard care. In 2020, the brand expanded into women's hair removal with their brand “Bombay Shaving Company–Women,” which accounts for nearly 25% of the total business. Their products are now available on e-commerce platforms, including Nykaa, Flipkart, and Amazon, as well as in over 40,000 physical stores.WHY: The fresh capital will be deployed to strengthen its omnichannel operations, widen its retail footprint, and boost investments in product innovation and brand building. The company said this fundraise will serve as a step to prepare for a potential IPO.IN THEIR OWN WORDS: “Thrilled to have Nikhil and Sixth Sense double down, especially with their new fund,” said Bombay Shaving Company’s founder and CEO Shantanu Deshpande. “Focusing on fast-evolving consumer needs, designing never-seen-before high quality products at competitive prices, and building brand remains core to what we do. We intend to continue this performance and take the company public soon. Idea is to do it sooner rather than later and carry the retail investor on our growth journey.