About Believe
Believe is a Consumer company based in Singapore (Singapore) founded in 2019 by Ankit Mahajan and Dheeraj Batra. Halal certified beauty and personal care products are offered online. It operates in the Consumer and Healthcare sectors. Believe has raised $87.01 million across 4 funding rounds from investors including Accel, 360 One and Alteria Capital. Believe was last valued at $283.16 million in May 2024. Its chief executive, as recorded, is Ankit Mahajan. Its Indian entity Believe Cosmetics Private Limited reported revenue of ₹31.89 Cr. Believe offers products and services including Vitamin C Cleanser and Hand Sanitizer. Its focus areas include Consumer Goods, Beauty & Personal Care Products, Multi Category and Internet First Brand.
Company details
Believe was founded in 2019 in Singapore as an online retailer in the beauty and personal care sector. Multi-category products, including toothbrushes, fragrances, and cosmetics, are provided through its domain believe.sg. All items are certified halal, alcohol-free, paraben-free, and free of animal-derived ingredients. Operations are based in Singapore, with co-founders Ankit Mahajan as CEO and Dheeraj Batra.
- Headquarters Singapore, Singapore
- Founders Ankit Mahajan, Dheeraj Batra
- Stage Minicorn
- SectorsConsumerHealthcare
- Email••••••••
- Website believe.sg
- Social LinkedIn
- Legal Name Believe Pte Ltd
- Date of Incorporation 29 Jul, 2020
- Indian entity revenue₹31.89 Cr
FY 2025 · -35% YoY
- Indian entity net loss-₹55.14 Cr
FY 2025 · -173% margin
- Indian entity EBITDA-₹49.51 Cr
FY 2025 · -155% margin
- Total Equity Funding$87.01M (USD)
in 4 rounds
- Latest Funding Round$4.5M (USD), Series C
May 2024
- InvestorsAccel
& 20 more
Associated legal entities of Believe
Believe operates through Believe Cosmetics Private Limited (active). Its filings, financials, charges and directors are on the company page.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2025) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Believe Cosmetics Private Limited CIN U74999KA2020FTC136600 | Active | 29 Jul 2020 | Bangalore, Karnataka | ₹31.9 Cr | 475 | 3 | View details |
Products & Services of Believe
Believe offers a comprehensive portfolio of products and services, including Vitamin C Cleanser and Hand Sanitizer.
Facial cleanser for gentle skin renewal and glowing results
Gel for effective hand cleaning and germ protection
Funding Insights of Believe
Believe has successfully raised a total of $87.01M across 4 strategic funding rounds. The most recent funding activity was a Series C round of $4.5 million completed in May 2024. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $87.01M
- Total Rounds 4
- Last Round Series C — $4.5M
- First Round $9.11M
(Mar 2020)
- Investors Count 21
All 4 funding rounds of Believe with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| May 2024 | $4.5M | Series C | $283.16M | NV Holdings | |
| Apr 2022 | $60.8M | Series C | $239.34M | Venturi Partners, 360 One | |
| Dec 2020 | $12.6M | Series B | $••••• | Accel, Jungle Ventures | |
| Mar 2020 | $9.11M | Series A | $••••• | Accel, Jungle Ventures |
| Date | Valuation | Stage |
|---|---|---|
| May 2024 | $283.16M | •••••••• |
| Apr 2022 | $239.34M | •••••••• |
| Dec 2020 | $••••• | •••••••• |
| Mar 2020 | $••••• | •••••••• |
Full valuation and stage history of Believe
Every valuation point, the growth-stage changes (minicorn, soonicorn, unicorn) and the dates behind them require an active premium plan.
- All valuation points
- Stage changes
- Dates
- Exports
Verified entity values are shown only after access is granted.
Last known valuation $283.16M (May 2024). 21 investors in total: 11 institutional and 10 angel.
Investors in Believe
Believe has secured backing from 21 investors, including venture fund, institutional, and angel investors. Prominent investors backing the company include Accel, 360 One and Alteria Capital.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
NV Holdings is focused on private equity and venture capital investments. | nv-holdings.com | Los Angeles, United States | ||
Multiple sectors are invested in by this venture capital firm. | venturi.partners | Singapore, Singapore | ||
Venture capital investments in early and growth-stage companies across Southeast Asia and India, focusing on technology sectors. | jungle.vc | |||
Accel is recognized as a leading venture capital firm. | 1983 | accel.com | Palo Alto, United States | |
Venture debt funding and structured finance for innovative startups in India. | 2018 | alteriacapital.com | Mumbai, India | |
Venture debt is offered by Genesis Alternative Ventures. | genesisventures.co | Singapore, Singapore | ||
Productivity software for note-taking and collaboration services. | 2023 | inuka.vc | Mumbai, India | |
Tech & Offline focused VC firm investing in seed & growth stage startups in the US & UAE | wamdacapital.com | Dubai, United Arab Emirates | ||
| thrivewealth.tcc.mode | ||||
Asset and wealth management software is provided for businesses. | 2008 | 360.one | Mumbai, India |
Investor details for Believe
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
- Round participation
- Investor portfolios
- Co-investor network
Verified entity values are shown only after access is granted.
Board of directors of Believe Cosmetics Private Limited (Believe)
Believe Cosmetics Private Limited is the primary company behind Believe. The board of Believe Cosmetics Private Limited currently have 2 directors; the longest-serving is Dheeraj Batra, appointed in 2020. 1 earlier director has ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Dheeraj Batra DIN 03486990 | Director | 29 Jul 2020 | 6 yrs 3 mo | Believe Cosmetics Private Limited |
| Ankit Mahajan DIN 08813167 | Director | 29 Jul 2020 | 6 yrs 3 mo | Believe Cosmetics Private Limited |
People of Believe
2 people are tracked at Believe (2 in leadership).
| Name | Role | Group |
|---|---|---|
| Co-Founder & CEO | Leadership | |
| Co-Founder | Leadership |
Complete people profiles for Believe
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
- Full employee list
- Team structure
- Board tenure
- Professional contacts
Verified entity values are shown only after access is granted.
Financials of Believe
Figures of Believe Cosmetics Private Limited, the primary company behind Believe, for FY 2025. Revenue was ₹31.89 Cr (-35% year on year). Net loss was -₹55.14 Cr (-173% margin). EBITDA was -₹49.51 Cr (-155% margin). Revenue has grown at a compounded annual rate of -27% over three years.
- ₹31.89 CrRevenue · FY 2025 · -35% YoY
- -₹55.14 CrNet loss · -173% margin
- -₹49.51 CrEBITDA · -155% margin
- ₹1.18 CrPaid-up capital
- 475Employees (provident fund records)
- -27%Revenue CAGR, 3 years
Balance sheet, profit and loss, cash flow and ratios of Believe Cosmetics Private Limited are on its company page.
Detailed financial statements for Believe
Statement rows, ratios, five-year trends and downloadable financials of the group companies require an active premium plan.
- Statement rows
- Financial ratios
- Five-year trends
- Downloads
Verified entity values are shown only after access is granted.
Timeline of Believe
4 dated milestones of Believe across 5 years, from founding to its latest funding, stage changes and deals.
- Founded Believe is founded.
- Funding First funding round of $9.1M.
- Milestone Reaches Minicorn status.
- Funding Latest funding round, Series C, of $4.5M.
Unlock complete access to The Company Check
Get unrestricted viewing across everything we track — from companies and brands to investors, funding rounds, acquisitions, financials, and more.
- Unlimited viewing on all profiles Companies, investors, financials, funding, acquisitions & directors
- Full access to every database India & global coverage, advanced filters and rich profile details
- Always-on access from your team account Single premium plan for everything you see on the portal
Related news about Believe
Complete news archive for Believe
Full article history, source details, and older brand coverage require an active premium plan.
- Full article archive
- Source and publication date
- Older coverage
- Brand-specific news history
Verified entity values are shown only after access is granted.
Frequently Asked Questions about Believe
Believe was founded in 2019 and raised its 1st funding round 1 year after it was founded.
Believe is headquartered in Singapore, Singapore.
Ankit Mahajan is the CEO of Believe, as recorded in our data. They have also founded this company.
Believe is a funded company, having raised a total of $87.01M across 4 funding rounds to date. The company's 1st funding round was a Series A of $9.11M, raised on Mar 2020.
The primary company behind Believe, Believe Cosmetics Private Limited, reported revenue of ₹31.89 Cr for FY 2025, down 35% year on year.
Believe was founded in 2019 in Singapore as an online retailer in the beauty and personal care sector. Multi-category products, including toothbrushes, fragrances, and cosmetics, are provided through its domain believe.sg. All items are certified halal, alcohol-free, paraben-free, and free of animal-derived ingredients. Operations are based in Singapore, with co-founders Ankit Mahajan as CEO and Dheeraj Batra.
Believe offers Vitamin C Cleanser and Hand Sanitizer.
Believe has 21 investors. Key investors include Accel, 360 One, Alteria Capital, Wamda, and Inuka Capital.
The valuation of Believe is $283.16M as of May 2024.
Believe operates through Believe Cosmetics Private Limited.
The legal entities of Believe currently have 3 directors, including Dheeraj Batra, Harish Venkateswaran, Ankit Mahajan.