Personal care brand CureSkin raised $20 M Series B funding from Healthquad

Healthquad led a $20 million Series B funding round for CureSkin, a personal care and cosmetics brand. JSW Ventures, Khosla Ventures, and Sharrp Ventures also participated in the round.

Up to now, the company has raised $26 million, with a $5 million Series A expected in March 2022. It was a part of the 2017 Summer Batch of Y Combinator.

According to a press release from CureSkin, the additional funding will be used to expand the company’s solution offerings and improve AI capabilities even more.

CureSkin, which was founded in 2017 by Guna Kakulapati, Ramakrishna Rajanna, and Dr. Charu Sharma, employs technology to accurately assess users’ skin conditions, including acne, hyperpigmentation, and hair loss and then suggests a customized treatment kit and care regimen.

With over 10 million skin pixels, the Bengaluru-based startup has aided over 1.5 million users and can identify up to 2,000 facial features to comprehend user concerns.

Approximately 80% of the company’s current users reside in tier II and tier III cities, according to Cureskin.

According to the media, Cureskin’s total revenue in FY22 was Rs 2.57 crore, whereas in FY23 it recorded Rs 35.46 crore from operations. Its losses increased as well, from Rs 2.57 crore to Rs 28 crore during that time.

Rajanna owned 12% of the company as of the Series A round, while Kakulapati, the company’s CEO, held 28% of the equity.

JSW Ventures held a 10.4% stake among investors, while Khosla Ventures acquired 8% during the most recent round of funding.

Clinikally, which raised $2.6 million in September of last year and was also a part of Y Combinator’s accelerator program, is one of the many companies with which Cureskin competes.