Unilever Ventures led the seed round for skincare brand SkinInspired, which raised Rs 12.25 crore, or roughly $1.5 million. Arjun Vaidya, a co-founder of Dr. Vaidya, took part in the round as well.
The money raised will be used to support strategic marketing campaigns, R&D projects, and improving the brand’s go-to-market approach.
Face wash, face serum, sunscreen, and moisturizer are among the four categories of products offered by SkinInspired, a curated range of products based on skin types that was founded in 2022 by dermatologist Dr. Prashant Agrawal and FMCG veteran Piyush Jain.
A refillable skincare line with airless jars and pumps that maintain product efficacy and encourage sustainability has also been introduced by the brand.
As per market research, the skincare sector in India is expected to reach a valuation of $3 billion by 2023, with a compound annual growth rate (CAGR) of 14.6% predicted for the period of forecast.
