Skincare brand SkinInspired has successfully raised Rs 12.25 crore (approximately $1.5 million) in its seed round of funding, led by Unilever Ventures. The round also saw participation from Dr Vaidya’s co-founder, Arjun Vaidya.
The fresh capital will be directed towards enhancing research and development initiatives, bolstering strategic marketing efforts, and fortifying the brand’s go-to-market strategy.
SkinInspired, founded in 2022 by FMCG veteran Piyush Jain and dermatologist Dr Prashant Agrawal, offers a curated range of products tailored to different skin types across four key categories: face wash, face serum, sunscreen, and moisturizer. The brand has also launched a refillable skincare line, featuring airless jars and pumps designed to preserve product efficacy and promote sustainability.
According to market research, the skincare industry in India reached a size of $3 billion in 2023, with demand anticipated to grow at a compound annual growth rate (CAGR) of 14.6% over the forecast period. This funding round positions SkinInspired to capitalize on this growth, leveraging its innovative product offerings and sustainable practices to capture a significant share of the expanding market.
