SkinInspired, a dermaceutical skincare brand, has raised $2.9 million (INR 24 crore) in a Series A funding round led by Spring Marketing Capital.
The round also saw participation from Lotus Herbals’ Beauty Innovation Fund and Arihant Patni, Managing Director at Patni Financial Advisors. Existing investor Unilever Ventures also joined the round.
The company will use the funds to improve research and product development, build its brand, expand its team, and grow its distribution network as it continues to scale in India’s dermaceutical skincare market.
Before this round, the startup had raised about $1.5 million in seed funding led by Unilever Ventures.
Other investors included Arjun Vaidya (founder of Dr. Vaidya’s and cofounder of V3 Ventures) and Chinmaya Goyal (principal economist at ADB and former NITI Aayog), among others.
Piyush Jain, Founder and CEO, SkinInspired said, “This funding round further cements SkinInspired as a brand that is raising the bar in the Indian skincare market. Our partnership with 200+ dermatologists, the high repeats of our products, and backing by marquee investors show the trust all stakeholders have placed in the brand. The proceeds from this round will mainly be allocated towards research and innovation, brand building, and team expansion.”
Prashant Agrawal, Senior Dermatologist, Cofounder and Chief Product Officer added, “With SkinInspired, we aim to stay ahead in formulations, ingredient quality and overall experience, and deliver true Delta 4 products. We will continue to stay committed to transparency, clean beauty compliance, vegan and cruelty free standards and clinically tested efficacy and safety while delivering products that offer real and tangible results to consumers.”
Antara Raychaudhury, Head of Investments – Early Spring, Spring Marketing Capital stated, “We are delighted to partner with SkinInspired, which offers Indian consumers an upgrade in terms of both efficacy and experience, and has all the right ingredients to become a global beauty brand.”
SkinInspired was founded in 2022 by Piyush Jain and dermatologist Dr. Prashant Agrawal. The brand offers science-backed and dermatologist-recommended skincare products for concerns like ageing, acne, and pigmentation.
SkinInspired sells its products through its own website and popular online platforms such as Amazon, Flipkart, and Blinkit.
The company mainly offers four types of products: sunscreen, moisturizer, face serum, and face wash. Customers can choose their skin type on the website and get a personalized list of products that best match their needs.
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