SkinInspired Secures $1.5 Mn Seed Funding Round Led by Unilever Ventures

• ByStartupStory     |    July 16, 2024

SkinInspired, a pioneering skincare brand known for its effective and dermatologically approved solutions, has secured Rs 12.25 crore (approximately US$1.5 million) in a seed funding round led by Unilever Ventures. This early-stage investment highlights the brand’s rapid success and strong consumer traction since its inception.

Founded in 2022 by FMCG veteran Piyush Jain and distinguished Dermatologist Dr. Prashant Agrawal, SkinInspired has quickly established itself as a high-performance skincare brand. The company offers a curated range of products tailored to various skin types, including face wash, face serum, sunscreen, and moisturizer, all featuring proprietary active ingredient blends.

Endorsed by dermatologists, SkinInspired has become a trusted choice for daily skincare routines. The brand has also introduced India’s first refillable skincare line, utilizing airless jars and pumps to preserve product efficacy and promote sustainability, addressing a significant gap in the Indian skincare market while meeting clean beauty standards.

Led by Unilever Ventures and supported by notable angel investors, including Dr Vaidya’s co-founder Arjun Vaidya, this funding marks a pivotal moment for SkinInspired, ushering in a new era of growth and innovation. The capital infusion will be allocated towards research and development initiatives, strategic marketing efforts, and enhancing the brand’s go-to-market strategy.

“SkinInspired epitomises the fusion of efficacious ingredient blends, delightful textures, and functional packaging, delivering a luxurious skincare experience with global resonance. We aim to elevate ‘I-beauty’ onto the global stage, benchmarking our formulations against the best worldwide,” stated Piyush Jain, Founder and CEO, SkinInspired.

Pawan Chaturvedi, Partner-Asia at Unilever Ventures, remarked, “Dermaceutical brands represent one of the fastest-growing segments in India and globally. We are thrilled to collaborate with SkinInspired, a brand that has carved out a distinct niche within a fiercely competitive landscape, garnering early acclaim from consumers and the Dermatologists community alike.”

Prashant Agrawal, a renowned Dermatologist, Co-founder, and Chief of Products expressed, “We are trying to raise the bar on efficacy, experience, and transparency in skincare through curated informational content on our social media handles.”

The skincare industry in India reached US$3 billion in 2023, with projected growth at a CAGR of 14.6 percent through the forecast period, expected to soar to US$13 billion by 2034. SkinInspired is strategically positioned to capitalize on this growth trajectory, offering innovative and effective skincare solutions to consumers nationwide.

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