Skincare Brand Conscious Chemist Raises Rs 1 Crore in Debt Capital from Recur Club
- ByStartupStory | February 14, 2024
Skincare brand Conscious Chemist has secured Rs 1 crore in debt capital from Recur Club. Despite being featured on Shark Tank India Season – III, the company did not secure funding from the show.
Conscious Chemist plans to utilize the funds for marketing initiatives to enhance brand visibility, diversify its product range, and establish offline retail outlets, as stated in a press release.
Founded in 2019 by Robin Gupta and Prakher Mathur, Conscious Chemist operates in the B2C space, offering a variety of skincare products including cleansers, moisturizers, sunscreens, face masks, serums, and more.
The Gurugram-based company claims to sell over 25,000 units monthly and boasts a customer base of over 4,00,000. It is currently available nationwide through retail chains such as Health & Glow and Shoppers Stop. Conscious Chemist also aims to strengthen its online presence and optimize its retail outlets.
Other major players in the skincare market include Mamaearth, SUGAR Cosmetics, mCaffeine, Color Bar, Kay Beauty, and others.
Recur Club invests in startups based on three core premises: an average revenue run rate (ARR) of at least Rs 1 crore, a six-month runway, and positive revenue growth. The company charges a fee of 0.5% from both borrowers and lenders.
According to Recur’s co-founder and CEO Eklavya Gupta, the firm’s primary focus is to onboard 500 – 700 startups this year and deploy Rs 2,000 crore through its platform.
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