The beauty and personal care startup secured Rs 3.2 crore in its pre-seed funding round from Better Capital. Other investors, including QED Innovations and senior leaders from CRED, Polygon, and Flipkart, participated in the funding round. The startup intends to use this fresh capital to scale its operations and product development, increase its offerings, launch an initial product, and develop a market presence. We are disscusing about Beauty and personal care startup Honestly secured Rs 3.2 crore in its pre-seed funding round led by Better Capital.
We are disscusing about Beauty and personal care startup Honestly secured Rs 3.2 crore in its pre-seed funding round led by Better Capital:
Honestly, it allows users to share their reviews among themselves. The company will focus on the B2B revenue model to enable other brands to use the driven platform and APIs in their product pages. The company aims to expand its network and reach around 1 million users across India in the next few years. The artificial intelligence will analyze the product’s ingredients and help users understand how their skin will react to the products. This technique will allow the users to find the products that might fit into their routines. The company plans to use this investment to solidify its position in the market.
The co-founder of Honeslty, Vivek Madani, told ET that after the company proves its B2C user application, it will have enough proprietary data to offer APIs for e-commerce platforms and integrate them into their platforms. The startup plans to explore India and expand into the international market, including the UAE and the UK. This investment will help the firm build a strong marketing and engineering workforce in the next few months. The Better Capital mentioned that on platforms like Reddit, we can see how broken skin care is today, and consumers are looking for products that go well with their skin types.
The company offers several skincare and beauty products, including toners, cleansers, moisturizing creams, and lotions. The skin care startup aims to help its customers achieve problem-free skin tones. The company claims to use safe, nourishing natural ingredients in its products. The products offered by the firm are scientifically tested and expert-formulated. The brand also provides customized skincare routines for its customers according to their skin types. The investment will help the company strengthen its product services through its integrated services.
Conclusion
Honeslty is an AI-powered startup that sells skincare and beauty products and secured Rs 3.2 crore in its seed funding round. Better Capital led the round, which also included QED Innovations and senior leaders from Polygon, CRED, and Flipkart. The company intends to use these fresh proceeds to scale up its operations, expand its network, launch its initial product, meet market demands, and enhance its platform for a better user experience.
The company offers online platforms, including websites allowing users to share product reviews. The company provides clinically tested skincare products based on different skin types. The categories offered by the company include cleanser, lotion, face serum, and moisturizer. The company faces competition from other skincare and beauty brands such as MamaEarth, Zulily, and Hello Bello.
My experience is in interactive, digital and social media marketing techniques, strategies and tools in marketing, public relations, and media relations.
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