SkinInspired is a D2C skincare brand that secured $1.5 million in its seed funding round from Unilever ventures. The funding round saw the participation of new and existing investors, including Arjun Vaidya. The development came just when the skin-care companies were booming in the Indian startup ecosystem with increased interest of investors in this sector. Here we are talking about Skincare startup SkinInspired secured $1.5 million in its funding round led by Unilever Venture.
The company plans to use these fresh proceeds to scale its operations, enhance its research & development, expand its network, and meet general corporate purposes. SkinInspired provides its customers with a customized and secure collection of skincare products based on Indian skin types. The startup claims to deliver scientifically tested and expert-formulated skincare products. This D2C startup plans to use a portion of this investment to expand its network across the country and its product categories. The firm invested in the startup because its vision aligns with SkinInspired. This funding will enable the company to improve its market and product strategy. The company aims to solidify its brand presence and marketing strategy.
The startup has launched a refillable skincare line product with airless jars and pumps developed to increase product efficiency and sustainability. The brand offers a variety of solutions and products, including face masks, cleansers, moisturizers, and more. The partner at Unilever Venture, Pawan Chaturvedi, said dermatologic brands represent one of the fastest-growing sectors in the Indian and global markets. This collaboration with SkinInspired shows the trust of Unilever ventures in the startup’s market potential and business model. This growing interest of investors in the D2C skincare sector is helping the startup to get a boost in fundraising. The investment will help the company achieve its goal of market expansion and strengthen its product services through its integrated services.
The skincare market is increasing rapidly across India and reached 3 billion USD last year. The skincare market is expected to grow at a CAGR rate of 14.6 percent in the next few years. The startup offers skincare products designed for Indian skin types. The brand faces competition from other personal and skincare D2C brands, including Minimalist, WOW Skin Science, The Derma Co, and Mamaearth. The founder of Piyush Jain mentioned that the brand aims to revolutionize skincare brands and elevate I-beauty on a global level by benchmarking formulations against the companies worldwide.
Conclusion
SkinInspired is a skincare product-selling startup that secured $1.5 million in its seed funding round. The funding round was led by Unilever Ventures with the participation of Arjun Vaidya. The company intends to use this fresh capital to scale up its operations, expand its network, meet market demands, and enhance its platform for better user experience. The company offers its services through online platforms, including a website, mobile application, and offline platforms like physical stores. The startup provides clinically tested skincare products based on Indian skin types. The categories offered by the company include face wash, sunscreen, face serum, and moisturizer.
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