Skincare brand ClayCo raises Rs 34.59 Cr Series A funding from Twenty-Nine Capital
In a Series A funding round headed by Twenty-Nine Capital Partners Ventures and involving ICMG Global Ventures, skincare company ClayCo has raised Rs 34.59 crore, or about $3.7 million.
In October 2024, the Mumbai-based startup received its first outside funding of $2 million from Unilever Ventures.
According to a press release, the company plans to use the new funding to boost working capital, expand into new markets, and expedite product development.
Niharika Jhunjhunwala founded ClayCo in 2023 with an emphasis on skincare products that blend contemporary formulas with natural ingredients. Inspired by traditional ingredients like rice, sake, and azuki beans, its first line, “Rituals of Japan,” consists of cleansers, moisturizers, serums, and essences.
Revenue for the brand increased from Rs 5 crore in FY24 to Rs 33 crore in FY25 and then to Rs 72 crore in FY26.
In addition to operating on quick commerce platforms, ClayCo sells through its D2C platform and marketplaces like Nykaa, Amazon, and Tira. It intends to grow into the categories of hair care and body care.
