Tech-enabled emerging beauty brand Uncover from Kenya has closed a US $1.4 million seed II funding round to develop its tech platform, introduce new products, and reach new markets.
Established in 2021, Uncover is a data-driven skincare brand for women that produces incredibly effective products with scientific backing, all of which have been tested and approved by women of color.
The startup has developed an educational tech platform that facilitates community engagement, relatable product discovery, and educational content. Thousands of data points about women are available to help customize for the specific skincare needs of the community.
In the past 24 months, Uncover has grown its revenue tenfold and established a digital community of over 200,000 women from Kenya, Nigeria, and the diaspora. After securing US $1.4 million in an oversubscribed seed II funding round, it recently expanded into Uganda and Ghana and is now poised for further growth.
Along with Chui Ventures, Samata Capital, and Altree Capital, the round was co-led by EQ2 Ventures and IgniteXL Ventures. Uncover enabled a sizeable secondary transaction as part of the round to satisfy investor demand.
In order to become the top skincare brand designed for skin rich in melanin, Uncover will use the funds to develop its platform further, introduce new products, enter more markets, and keep using data. In addition to African diaspora populations, the company has observed a global demand for its products, and it is actively forming partnerships in important North American diaspora markets.
“Uncover is much more than a skincare brand. We are a movement to prioritise women of colour who have been sidelined by the beauty industry for generations. The industry has represented only a few skin tones in testing and we are one of the first brands testing on women in Africa. Our data-driven products combined with a tech platform focused personalization have fueled the company’s growth. What’s exciting is that we are starting in Africa but seeing global demand and opportunity for our solution,” said Sneha Mehta, co-Founder and CEO of Uncover.
The company’s co-founder and chief operating officer, Jade Oyateru, expressed her delight at working with a “remarkable” group of investors who share Uncover’s outlook for women’s skincare and wellness in the continent and beyond.
“They bring a wealth of experience in this industry. This funding will empower us to unlock our next stage of growth, expand our product portfolio, enhance our technology, and reach even more consumers seeking personalised skincare solutions,” she said.
As someone who has followed Uncover since its inception, Patrick Thiriet of EQ2 Ventures said his company was impressed with the co-founders.
“As investors in several consumer-tech businesses over the last eight years, we’ve rarely seen such a combination of clarity in the vision and maturity in the execution. We believe Uncover’s team has what’s required to build a leading skincare and beauty brand for Africa and are looking forward to helping them in this journey,” he said.
